OPEC May Not Produce Less

This article suggests that the 4% reduction in output may not happen, because of the cheating I discussed yesterday.

More along those lines from BBC News and Reuters. Oil prices actually fell in overnight trading because of the expectations that the participants would not be able to adhere to their agreement.

Cartel instability, almost as predictable as death and taxes!


One thought on “OPEC May Not Produce Less

  1. look for it to continue. when has the cartel adhered to anything? maybe the funds might relax a bit, and maybe we’ll see the bush administration waiving those new gasoline requirements in ct nj and cali. a bearish move would be nice before the election…. and not too hard.

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