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OPEC Strives to Adjust to New Economics of Oil Industry

2015-06-05 13:57:00| Climate Ark Climate Change & Global Warming Newsfeed

New York Times: The Organization of the Petroleum Exporting Countries agreed to keep the oil pumping, with no change in its production quotas, at the groups meeting here on Friday. Even though oil prices are about 40 percent lower than a year ago, OPEC decided to keep its output target at 30 million barrels a day in an effort to maintain market share and respond to robust production in the United States. The Qatari minister of energy and industry, Mohammed bin Saleh al-Sada, who presided over the meeting, told...

Tags: industry oil economics adjust

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