Oil MarketIn The Absence Of An OPEC Controlling Mechanism

By Behrooz Baik Alizadeh

Mr Alizadeh is Senior Oil Market Analyst at the Iranian Ministry of Petroleum of Iran (balizadeh@nioc.ir). This analysis is based upon the personal opinion of the author and does not represent the official view of the ministry.

OPEC, at its 160th meeting of conference on 14 December 2011 held in Vienna, Austria, decided to set its production at 30mn b/d from the beginning of 2012. The OPEC press release...