Timothy Stolz

Will OPEC Cut Production to Prevent Producer Deficits?

Since OPEC has the reputation of not being able to provide a cohesive unified approach to enforcing production quotas, I am going to guess that this time, at this Fridays meeting, something will be different.
Money, and quite a bit of it, is on the table this time around, and I believe the focus will be greed. The taste of "$147" per barrel oil was simply too good of a flavor not to try out the other flavors, like "$100" or "$85" or the soon to be favorite flavor of the western world at "$74.95."
OPEC is going to want to make a unified base price that is a measurement by which all of the worlds oil is priced. They have the oil....they have the power to set the price. They also have the power to enforce their own rules.
We shall see what Fridays OPEC meeting brings.