Will OPEC be able to enforce this deal?
In Doha, Qatar’s capital, the energy ministers of Qatar, Russia, Saudi Arabia and Venezuela huddled behind closed doors at the St. Regis Hotel. These four countries account for about a third of the world oil output. The combined oil output from Russia and Saudi Arabia delivers about 13 percent of the world’s oil, each pumping close to 11 million barrels of oil per day.A long oil war—mostly prosecuted by Saudi Arabia—had greatly damaged Russia and Venezuela, bringing Saudi Arabia as well to the point of self-destruction. These powers needed a deal to …read more
Source: AlterNet
