The chart above is from the Net Oil Exports blog, and shows the difference between: a) OPEC's official quotas and b) OPEC's typically higher actual production, demonstrating that "OPEC almost always cheats as a group. They over-produce by 500,000 barrels per day (bpd)."
Sunday, October 19, 2008
OPEC Cheats: It Overproduces By 500,000 bpd
The chart above is from the Net Oil Exports blog, and shows the difference between: a) OPEC's official quotas and b) OPEC's typically higher actual production, demonstrating that "OPEC almost always cheats as a group. They over-produce by 500,000 barrels per day (bpd)."
As the eternal wheel turns, monopoly partners cheat.
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Is this a problem?
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