OPEC meet and oil output reduction

    • OPEC meet and oil output reduction

      OPEC is going to meet again on December 17th. There will be drastic reduction in the oil output this time.
      The last time that OPEC had cut production the prices still fell.

      Reducing oil output will hurt the oil exporting countries too, maybe not as much. The oil exporting countries will have a reduced earning.

      Some other discussions here a few weeks ago in this forum mentioned the "glue" that is holding the OPEC together. This glue has to be tested this time.
      We shall wait for the output drop as well as the check on OPEC's unity?