A review by Oxford Institute for Energy Studies suggests OPEC has less power to maintain high...

|By:, SA News Editor

A review by Oxford Institute for Energy Studies suggests OPEC has less power to maintain high oil prices than it does to prevent low oil prices. If OPEC really wants to defend its current price level - all indications are that it is happy with oil ~$110/bbl - then it likely will need to accept a large reduction in its market share, the report concludes.