OPEC: Return of the cartel

摘要

The average price of Dated Brent for the year to Novemberrn30, when OPEC met in Vienna, was $42.86/barrel. The pricerntrend was up, with Brent starting the year in a January troughrnsometimes below $30/b, but rising through the year to justrnabove $50/b in October. OPEC’s market share strategy,rninstituted from November 2014 by Saudi Arabia and its ArabrnGulf kingdom allies, was working, but only very slowly andrnpainfully for such heavily oil revenue dependent states.