{"id":1986,"date":"2014-11-24T07:27:10","date_gmt":"2014-11-24T12:27:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1986"},"modified":"2014-11-24T07:27:10","modified_gmt":"2014-11-24T12:27:10","slug":"opecs-easy-days-setting-oil-production-are-over-veteran-says-you-need-russia-norway-mexico-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1986","title":{"rendered":"OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico – Bloomberg"},"content":{"rendered":"

OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico – Bloomberg<\/a>.<\/p>\n

The days when OPEC members could all but guarantee consensus when deciding production levels for oil are long gone, according to a veteran of almost two decades of the group\u2019s meetings.<\/p>\n

The global glut of crude, which has contributed to a 30 percent decline in prices since June 19, has left the Organization of Petroleum Exporting Countries disunited and dependent on non-members to shore up the market, said former Qatari Oil Minister Abdullah Bin Hamad Al Attiyah. The 12-member group is set to meet in Vienna on Nov. 27.<\/p>\n

\u201cOPEC can\u2019t balance the market alone,\u201d Al Attiyah, who participated in the group\u2019s policy meetings from 1992 to 2011, said in a Nov. 19 phone interview. \u201cThis time,\u00a0Russia<\/a>,\u00a0Norway<\/a>\u00a0andMexico<\/a>\u00a0must all come to the table. OPEC can make a cut, but what will happen is that non-OPEC supply will continue to grow. Then what will the market do?\u201d<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico – Bloomberg. The days when OPEC members could all but guarantee consensus when deciding production levels for oil are long gone, according to a veteran of almost two decades of the group\u2019s meetings. The global glut of crude, which has […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[517,1241,589,592,595,600,694],"class_list":["post-1986","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-mexico","tag-norway","tag-oil-demand","tag-oil-price","tag-oil-production","tag-opec","tag-russia"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1986"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1986\/revisions"}],"predecessor-version":[{"id":1987,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1986\/revisions\/1987"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}