Tag archive for ‘Opec’
How Will OPEC’s Production Cut Affect the U.S. Economy?
Amid the hub bub around the announcement of OPEC’s largest oil production cuts ever, I wonder: How will these massive cuts in oil production affect the U.S. Economy? The price of oil has dropped nearly 70% since July when the price hit its peak. The lower prices have definitely served to prop up the U.S. [...]
OPEC Cuts Production to Stem Plummeting Oil Prices
OPEC decided to cut its oil production by 1.5 MM barrels last week, about 5% of the oil cartel’s total daily output. But will this really stop the dead weight drop in crude oil prices? “Venezuela’s Oil Minister Rafael Ramirez has said OPEC will need to cut production by at least another 1 million barrels [...]
OPEC Calls Emergency Meeting
More Proof that U.S. Demand for Oil is Decreasing?? OPEC will be meeting one month ahead of schedule. “Emergency” meeting? I am posting on this topic again because of another assertion by the Financial Times on the reason for the said decrease. This post is related to OPEC’s “emergency” meeting which is said to [...]
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