The Rising Influence of Rising Affluence

[Titan V]

OPEC’s Misleading Narrative About World Oil Supply
http://www.belfercenter.org/publication/opecs-misleading-narrative-about-world-oil-supply

At a time when energy market headlines focus mainly on OPEC cuts, observers may be forgiven for concluding that a supply crunch and higher prices are imminent. On the contrary, there is still too much oil in global markets. In this context, OPEC production cuts (which notably fall short of the original target envisaged by the organization) appear to serve mainly as a psychological support to oil prices.