An oil buyers club is threatening OPEC's dominance

Heinz-Peter Bader/Reuters India and China are forming an oil buyer's club, a formation that could stand to threaten OPEC's strong position in the oil market. The boom in US oil production is giving the two countries the ability to do this. This formation is essentially an electric-vehicle play. When reports emerged that India and China are in talks about forming anoil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now,...