for Ali al-Naimi
The intense levels of collusion on a global scale between politicians of producer states, OPEC representatives, and even traders are a clear reminder that the cartel's operations undermine a fair, free, and transparent oil market. OPEC argues that its decision last week was in the interests of price stability, but others see the exact opposite.
The OPEC freeze deal is already having the intended impact, pushing prices up by 40 percent, while also helping to establish a foundation of trust among participating oil producing countries.
Before this week's meeting, Matthew M. Reed sheds light on the internal politics driving Saudi Arabia's decision making.