UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
OPEC chooses not to react to falling oil prices
OPEC decided at its latest (27 November 2014) meeting not to react to falling oil prices by cutting production. It also omitted from its post-meeting press release any mention of a pledge to comply with the 30mn b/d ceiling that has been in place since the beginning of 2012. Prices resumed their downward run as the meeting broke up. For more comment regarding the implications of OPEC’s decision, see p2 of Petroleum Review’s January 2015 issue.
News Item details
Journal title: Petroleum Review
Keywords: Oil price
Countries: Worldwide -
Organisation: OPEC
Subjects: Exploration and production
