Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Friday, January 16, 2015

Energy Quote of the Day: ‘[OPEC] Cannot Continue Protecting a Certain Price’

Energy Quote of the Day: ‘[OPEC] Cannot Continue Protecting a Certain Price’

By Jared Anderson
Iraq's Minister of Oil and President of
Implicitly or explicitly Opec countries are battling with US oil producers over the commodity price. There is much evidence to suggest that given US production growth volumes – Gulf Coast output alone is up 1.9 million barrels per day since 2010 – and weak global demand, Opec could only marginally impact prices by cutting production.

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