OPEC wants to be perceived as part of the solution, not part of the problem.
If demand continues to be strong we are going to be struggling. OPEC appears to be taking the view that the risks are weighted more to the upside than the downside.
If you gave oil companies a choice between the tar sands in Canada or oil in Saudi Arabia, which do you think they'd choose?
But they don't want to send the wrong signal to the market. They want to continue a loose supply policy, meaning that if there's a crude problem, which there isn't now, they can supply it.
High prices have given all producing countries a lot more leverage.
Fishing seems to have gotten better in recent years.
The most important thing in communication is to hear what isn't being said.
Peter F. Drucker
(November 19, 1909 - )
I can explain it for you, but I can't understand it for you