Right. The seeds of destruction are built into a cartel by its nature. The temptation for any one member to pump more when the price is high is always there, hoping that other members will not find out and retaliate by also pumping more. OPEC is still a big player - maybe they can put in place some kind of deal with non OPEC suppliers to reduce supply for a while. But history is full of even OPEC nations cheating against other OPEC nations, let alone against non OPEC ones.
Add to My Watchlist
What is My Watchlist?