Rebuttal to Sadad Al-Husseini: OPEC Needs to Reverse Course now!
Article from: OGEL 4 (2016), in Economic and Commercial Context for Oil, Gas and Energy Law
May 2015 - In a recent opinion article published in International Oil Daily (14 May), Sadad Al-Husseini argued that OPEC, at its forthcoming meeting, should merely prolong its market share strategy "well into 2017". His argument was based on widely expected growth in global oil demand and on the undisputed low production cost of oil from some OPEC countries. A more complete analysis, taking into consideration current weak market fundamentals, the unrealistic expectations of financial investors, and the potential for extreme oil price volatility leads us to conclude that OPEC, ...