EVEN LOWER, FOR EVEN LONGER: The Implications of OPEC Inaction

EVEN LOWER, FOR EVEN LONGER: The Implications of  OPEC Inaction

OPEC is a consensus organization. It takes no action without unanimous agreement of the thirteen members. The lack of any change at the December meeting does not, however, imply concord or satisfaction among the member states. Rather, it implies a lack of unanimity to any course other than status quo ante.

Read More