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OPEC Losing Its Grip On Oil Markets

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From their opposing positions on U.S. shale to whether freezing – or even cutting – oil production around the world is even possible, the Organization of Petroleum Exporting Countries (OPEC) and Saudi Arabia – its most significant member – appear to be reading from different playbooks.


Abdalla Salem El-Badri, OPEC’s executive director, stopped short of outright blaming U.S. shale producers for the downturn in global oil markets, but he did say he doesn’t see how shale and OPEC can live together.



http://www.downstreamtoday.com/news/article.aspx?a_id=51246


Lets hope the price at the bowser reflects current crude prices sadly i doubt it , these guys have fleeced us for years .

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