OPEC Cuts Daily Production by 1.2 Million Barrels
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OPEC agreed to cut its global production by approximately 1% in an effort to lift sagging prices. WSJ's Sarah Kent and Tanya Rivero discuss the behind-the-scene dealmaking and whether OPEC's agreement is expected to last. Photo: Getty Images Subscribe to the WSJ channel here: http://bit.ly/14Q81Xy More from the Wall Street Journal: Visit WSJ.com: http://www.wsj.com Follow WSJ on Facebook: http://www.facebook.com/wsjvideo Follow WSJ on Google+: https://plus.google.com/+wsj/posts Follow WSJ on Twitter: https://twitter.com/WSJvideo Follow WSJ on Instagram: http://instagram.com/wsj Follow WSJ on Pinterest: http://www.pinterest.com/wsj/
Comments
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They were butt hurt that gas prices were causing them to lose millions. It's not like they weren't making millions already. Oil is like a drug. It's weed was getting cheaper, the cartel would just cut half the smuggling till the demand becomes higher. Which would cause them to produce the half that they cut. I'm sure they cut it just because of the holidays.
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I thought ISIL controlled Iraq's oil
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The papyrus trade had a pretty tight cartel and they cut their own throats over greed, too.
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