Below is an extract of a post published on Guardian titled "Opec summit: cut expected to balance price fall and global slowdown"
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Via: Guardian
Experts say cartel, which meets this week, could cut by 500,000 barrels a day to reflect forecasts for a slowing global economy Opec meetings are never simply about turning on and off the taps of the stuff that greases the world’s economy. And when the Organization of Petroleum Exporting Countries meets on December 6 there will be more to discuss than oil prices. Geopolitics also overhangs the Opec meeting. Donald Trump has consistently pushed for lower prices and cheered recent falls earlier this month. Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower! Related: Newfoundland oil spill: biologists fear scale of devastation may never be known Continue reading…
