At first glance, OPEC, the oil-exporting countries' alliance established in 1960 by Iran, Iraq, Saudi Arabia, and Venezuela, must be reliving the good old days with spectacular oil prices reinstated and its end-of-the-year gain as projected by the IEA inching towards a trillion dollar mark. The figure, however, reflects only the brighter part of OPEC's present-day picture, the downside being that its formerly robust internal consensus is being washed away by a tide of financial egotisms and national rivalries...
Vadim VIKHROV | 07.08.2011 |