Oil prices will not soar in 2017, and OPEC is the reason (MarketWatch)

02 / ENE / 2017
petroleo

By Amotz Asa-El (MarketWatch)

Oil prices will not soar in 2017, and OPEC is the reason (MarketWatch)

It was 2016’s most ambitious economic move.

The Organization of the Petroleum Exporting Countries, the oil-producers’ cartel that last century haunted the industrialized powers, has harnessed Russia to help restore and multiply the organization’s pressure on the energy markets.

One month on, the move seems a success, as crude prices climbed from $46 to $54 per barrel, underscoring a year in which oil’s 60%-plunge since 2014 finally bottomed out at $35.

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