All Commentary
Tuesday, June 12, 2012

OPEC Signals Oil Cutback


“OPEC’s president signalled on Monday it could act to reduce a glut of oil that has knocked the price down towards double digits, but said it was unlikely to set individual country production quotas at a meeting this week.” (Christian Science Monitor)

OPEC is more show than substance.

FEE Timely Classic
“Voluntary and Coercive Cartels: The Case of Oil” by David Osterfeld