{"id":2070,"date":"2014-11-26T07:01:02","date_gmt":"2014-11-26T12:01:02","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2070"},"modified":"2014-11-26T07:01:02","modified_gmt":"2014-11-26T12:01:02","slug":"its-grip-on-oil-weakening-opec-will-meet-on-prices-nytimes-com","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2070","title":{"rendered":"Its Grip on Oil Weakening, OPEC Will Meet on Prices &#8211; NYTimes.com"},"content":{"rendered":"<p><a href=\"http:\/\/www.nytimes.com\/2014\/11\/26\/business\/its-grip-on-oil-weakening-opec-will-meet-on-prices.html?action=click&amp;pgtype=Homepage&amp;module=second-column-region&amp;region=top-news&amp;WT.nav=top-news&amp;hp&amp;_r=0\">Its Grip on Oil Weakening, OPEC Will Meet on Prices &#8211; NYTimes.com<\/a>.<\/p>\n<p id=\"story-continues-1\" class=\"story-body-text story-content\" style=\"font-size: 1rem; line-height: 1.4375rem; font-weight: 400; font-family: georgia, 'times new roman', times, serif; width: 540px; max-width: 540px; margin: 0px 0px 1em 135px;\" data-para-count=\"149\" data-total-count=\"149\">LONDON \u2014 As\u00a0<a style=\"text-decoration: underline; color: #326891;\" title=\"More articles about oil.\" href=\"http:\/\/topics.nytimes.com\/top\/news\/business\/energy-environment\/oil-petroleum-and-gasoline\/index.html?inline=nyt-classifier\">oil<\/a>\u00a0prices continue to plummet, the once-dominant international cartel of producers is losing its sway over the global energy markets.<\/p>\n<p class=\"story-body-text story-content\" style=\"font-size: 1rem; line-height: 1.4375rem; font-weight: 400; font-family: georgia, 'times new roman', times, serif; width: 540px; max-width: 540px; margin: 0px 0px 1em 135px;\" data-para-count=\"352\" data-total-count=\"501\">At its meeting on Thursday in Vienna, the Organization of the Petroleum Exporting Countries, the group of 12\u00a0<a class=\"meta-classifier\" style=\"text-decoration: underline; color: #326891;\" title=\"More articles about oil.\" href=\"http:\/\/topics.nytimes.com\/top\/news\/business\/energy-environment\/oil-petroleum-and-gasoline\/index.html?inline=nyt-classifier\">oil<\/a>\u00a0producing nations, is under pressure to at least announce modest cuts in an effort to shore up the markets. But any cuts would be modest and would probably do little to prop up oil prices, assuming the countries even stick to an agreement.<\/p>\n<p class=\"story-body-text story-content\" style=\"font-size: 1rem; line-height: 1.4375rem; font-weight: 400; font-family: georgia, 'times new roman', times, serif; width: 540px; max-width: 540px; margin: 0px 0px 1em 135px;\" data-para-count=\"247\" data-total-count=\"748\"><a style=\"text-decoration: underline; color: #326891;\" title=\"More articles about Organization of Petroleum Exporting Countries (OPEC)\" href=\"http:\/\/topics.nytimes.com\/top\/reference\/timestopics\/organizations\/o\/organization_of_petroleum_exporting_countries\/index.html?inline=nyt-org\">OPEC<\/a>\u00a0is caught in a swirl of forces that are depressing prices, down more than 25 percent since June to around $80 a barrel. And the cartel\u2019s muscle, namely its control over one-third of the world\u2019s oil production, is not enough to fight them.<\/p>\n<p><span class=\"Apple-style-span\" style=\"font-family: georgia, 'times new roman', times, serif; font-size: 16px; line-height: 23px;\">Asian and European economies are slowing, which has cut demand. And supply is booming, with shale drilling in the United States adding as much as a million barrels a day this year.<\/span><span class=\"Apple-style-span\" style=\"font-family: georgia, 'times new roman', times, serif; font-size: 16px; line-height: 23px;\">&#8230;click on the above link to read the rest of the article&#8230;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Its Grip on Oil Weakening, OPEC Will Meet on Prices &#8211; NYTimes.com. LONDON \u2014 As\u00a0oil\u00a0prices continue to plummet, the once-dominant international cartel of producers is losing its sway over the global energy markets. At its meeting on Thursday in Vienna, the Organization of the Petroleum Exporting Countries, the group of 12\u00a0oil\u00a0producing nations, is under pressure [&hellip;]<\/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":[588,592,595,600],"class_list":["post-2070","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil","tag-oil-price","tag-oil-production","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2070","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=2070"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2070\/revisions"}],"predecessor-version":[{"id":2071,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2070\/revisions\/2071"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}