BriefingGlobal

OPEC Faces Perfect Storm of Global Supply Glut, Internal Tensions

SUBSCRIBE NOW
Free Newsletter

Last week, OPEC decided to leave its production ceiling unchanged at 30 million barrels per day (bpd), the target it set two years ago. On the face of it, this decision seems to reflect the self-proclaimed oil cartel’s satisfaction with current high oil prices. Over the past three years, OPEC has thrived with Brent crude averaging above $100 a barrel, boosting members’ revenues to record highs. High prices have even allowed the Vienna-based organization to become sloppy: OPEC stopped publishing individual country quotas five years ago, and most cartel members are producing all the oil they can; meanwhile, Saudi Arabia […]

TO READ MORE

Enter your email to get instant access to this article and to receive our free email newsletter:

Or, Subscribe now to get full access.

Already a subscriber? Log in here .

What you’ll get with an All-Access subscription to World Politics Review:

A WPR subscription is like no other resource — it’s like having your own personal researcher and analyst for news and events around the globe. Become a member now, and you’ll get:

  • Immediate and instant access to the full searchable library of 15,000+ articles
  • Daily articles with original analysis, written by leading topic experts, delivered to you every weekday
  • Daily links to must-read news, analysis, and opinion from top sources around the globe, curated by our keen-eyed team of editors
  • Weekly in-depth reports, including features on important countries and issues.
  • Your choice of weekly region-specific newsletters, delivered to your inbox.
  • Smartphone- and tablet-friendly website.

And all of this is available to you — right now for just $1 for the first 3 months.

BEGIN YOUR WPR SUBSCRIPTION NOW

More World Politics Review