Next Year, OPEC May Loosen Its Straightjacket – The Source – WSJ

Next Year, OPEC May Loosen Its Straightjacket – The Source – WSJ.

For a significant shift in OPEC policies, watch out for June 2012.

No major change is expected when the Organization of Petroleum Exporting Countries meets next month. But mid next-year, the group may finally decide to upgrade its quotas system—the allocation that formally restricts production levels for all its members bar Iraq.

Back in 2008, the group decided to reduce its collective output ceiling by 4.2 million barrels a day as oil demand and prices collapsed amid an acute global recession.

Advertisements
%d bloggers like this: