OPEC is a dysfunctional organization that has outlived its usefulness, Oppenheimer senior energy analyst Fadel Gheit said Thursday. “OPEC is finished. OPEC is over,” he said in an interview with CNBC’s “ Power Lunch .” 25
Oil watchers have been waiting for a production cut for almost two years. But while OPEC hasn’t yet participated in a coordinated effort, the cartel of oil-producing countries technically has slashed its output. Or, more 25
DOHA, Qatar (AP) — A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output 25
DOHA, Qatar – Oil-producing countries met Sunday in Qatar to discuss a possible freeze of production to counter low global prices, but Iran’s last-minute decision to stay home could dilute the impact of any agreement. 25
NEW YORK, April 1 (UPI) — Oil prices took one of their biggest hits of the year Friday as pressure from Riyadh’s response to a production freeze was doubled by weak U.S. labor figures. Mohammed bin 25
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