“OPEC Meeting Ends With No Production Cuts”

| December 11, 2015

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Headlines (“OPEC Meeting Ends With No Production Cuts”) from an article in the Wall Street Journal, December 4, 2015 suggest maintaining a cartel is difficult to achieve.
“The Organization of the Petroleum Exporting Countries ended a contentious meeting Friday without any agreement to restrain production, leaving members to continue pumping crude at near-record levels into an already oversupplied market.
As in two previous meetings, however, the group couldn’t overcome a fundamental divide. Members demanding output cuts, such as Iran and Venezuela, were unwilling or unable to offer production cuts themselves. Those most able to cut, Saudi Arabia and its neighboring Persian Gulf states, refused unless all members participate along with some producers from outside the organization.”

Discuss why it is difficult for OPEC (Organization of Petroleum Exporting Countries) to achieve its goals and the potential ramifications on prices, as well as on the production of oil, of the challenges facing OPEC today.
Paper should be three pages in length and include references, if appropriate.

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Assignment 2: Required Assignment 1—Cost and Decision-Making Analysis
Annotated Bibliography


Category: Essays

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