OPEC: Prices Drop Even As They Discuss

The fall of a senile emperor is always around the corner.Or so wrote one blunt writer.


When OPEC announced a meeting, the Manufacturing world held a collect breath.
OPEC: Who Represents Nigeria?
Not anymore .Only after 32 years, the one successful cartel ever formed by the Third World has Just died.

Signs of its impending demise was when In November, 2014,In Vienna, Saudi Arabia said no to suggestions of production costs to the chagrin of Russia, a non member but present at the meeting.

Today, no more doubts. Prices fell as discussion were holding. Now It is Russia that clearly says it is not interested in production cuts to the chagrin of Venezuela..

The news comes as Baker Hughes, a soon to be acquisition of  bigger player, Halliburton ,announced a loss of 39%.
Share on Google Plus

About ossy ilumah

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.