Tag: opec

Oil prices slip as Angola decides to exit OPEC

- Reuters -

Oil prices settled lower on Thursday after Angola said it would exit the Organization of the Petroleum Exporting Countries (OPEC), raising questions about the producer group's efforts to support prices by limiting global supplies. Brent crude futures settled down 31 cents at $79.39 a barrel. U.S. West Texas Intermediate crude futures

Oil exporters make markets, not war

- Humberto Márquez, IPS -

The decision to cut oil production by the Organization of Petroleum Exporting Countries (OPEC) and its allies as of Nov. 1 comes in response to the need to face a shrinking market, although it also forms part of the current clash between Russia and the West. The OPEC+ alliance (the 13