It looks as if Opec is determined to mess up the world economy and its own prospects for preserving...
It looks as if Opec is determined to mess up the world economy and its own prospects for preserving the hefty increases in its oil revenue. After spending much of last year pumping more oil when prices were surging, the Organisation of Petroleum Exporting Countries (Opec) now appears determined to cut production for the second time this year in a bid to keep prices above $25 a barrel. The timing couldn't be worse. Economic growth already is slowing. Cutting oil supplies and boosting prices may send the world into recession, reducing the growth in energy consumption. Yet the 11-nation g...
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