Oil Price Has Been Good For OPEC

Oil Price Has Been Good For OPEC

The OPEC countries have enjoyed the price of oil of late, and would certainly benefit from any further rises. Iraq ‘s output in the last few years has risen by almost a quarter but some other non-OPEC nations such as Iran and Nigeria have been hit by political issues. The US has been producing more, especially shale oil, but this has only filled the gap left by other nations. If the Iraq supply is affected, OPEC is unlikely to be able to boost production. Read the full story.