This Thursday the leaders of OPEC will meet in Vienna to
try to stabilize global oil prices. Over the last two months we’ve seen about a
20 percent drop in oil prices. While that may be good news for Americans at the
pump, there are many other factors at work here. First, OPEC wants to see
consistency in oil prices. The last thing they want to see is the situation
they had three years ago when the price of oil went down to about $30 per
barrel. OPEC wants to see oil at $100 per barrel, which is a good number for
all of them. If that doesn’t happen, things could get pretty contentious. [more...] Note: Will McAndrew appeared on FOXBusiness.com
and WSJ’s
Marketwatch.com on this topic.
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