Publications: Notes at the Margin

OPEC's Decision Point (November 24, 2014)


The Organization of the Petroleum Exporting Countries meets this coming Thursday. This will be one of OPEC’s more important conferences in the last decade or two. Unlike other recent talks, the outcome is highly uncertain. When the meeting adjourns, it will be either consumers who are happy or the high-cost producers. It will not be both. The question that remains to be answered is whether the OPEC nations, especially the Middle East Troika of Kuwait, Saudia Arabia, and UAE, will cut production on their own by one million barrels per day to sustain Brent prices at or near $80 per barrel. This week's report analyzes the factors likely being considered by the member countries as they get ready to make their decision.


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