Quotation: Still-mighty OPEC tries to maintain oil’s recent price gains, considers freezing output"
Published in Financial Post
“This plan that involves all these producers working together is dead on arrival,” said Arlington-based Omar Al-Ubaydli, program director for international and geopolitical studies at the Bahrain Centre for Strategic International and Energy Studies.
Al-Ubaydli said the meeting is no more than “political grandstanding,” especially since many oil exporters, stung by anemic economies since the oil price collapse, must allay their citizens’ concerns.
“It’s much more about the governments involved showing their citizens that they are trying to raise oil prices, and that the blame for falling oil prices doesn’t lie with them,” he said.
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