It's hard to take OPEC seriously anymore

Thomson Reuters In the midst of a week of bad to terrible news for oil prices, OPEC tried to alleviate concerns that its meeting this November will, in fact, produce a meaningful deal on production cuts. “We remain deeply optimistic about the possibility that the Algiers agreement will be complemented by precise, decisive action among all producers,”announced OPEC via its regular publication, “OPEC Bulletin.” The announcement came as industry analysts and pundits criticized the organizat...