Photo: ezioman via Flickr
When OPEC members met in Vienna recently, the Saudis failed to control the meeting, OPEC’s production ceiling remained unchanged, and member countries are setting their own output levels.But talk of an OPEC breakup is premature.
After all, it has survived major wars, numerous diplomatic disputes, and two major market collapses. In fact, the secret to OPEC’s survival is its weakness, not its strength.
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