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OPEC Oil Price War Won’t Be Successful

This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

In a highly publicized meeting last month, OPEC announced it would maintain high production levels in an attempt to disrupt U.S. shale oil producers.

But the OPEC oil price war simply won’t work says Money Morning‘s Global Energy Strategist Dr. Kent Moors. He’s been meeting with some of the world’s top oil policymakers in Dubai this month and has been analyzing OPEC’s strategy.

n a highly publicized meeting last month, OPEC announced it would maintain high production levels in an attempt to disrupt U.S. shale oil producers.

But the OPEC oil price war simply won’t work, says Money Morning‘s Global Energy Strategist Dr. Kent Moors. He’s been meeting with some of the world’s top oil policymakers in Dubai this month to analyze OPEC’s strategy.

Moors appeared on Bloomberg TV in London today (Monday) to explain why OPEC is fighting a losing battle. He also detailed what the fair market price for crude oil is right now:


More from Dr. Kent Moors: Whenever oil prices drop, investors always wonder how it will affect wind and solar power. But the landscape for renewable energy has changed significantly in recent years and crude oil prices don’t have the same impact. Here’s why lower oil prices won’t kill the renewable energy boom…

The post OPEC Oil Price War Won’t Be Successful appeared first on Money Morning

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