If the slump persists, the organization could -- as one key producer suggested -- double-down on the strategy by cutting output even further. Photo:ReutersGiven oil’s plummet at the end of last year, OPEC’s strategy to stabilize the market might look a bust. But where it matters most for the cartel’s members -- petroleum revenues -- it’s still a winner. If the slump persists, the organization could -- as one key producer suggested -- double-down on the strategy by cutting output even further. Even if prices don’t recover from current levels and OPEC maintains its cuts all year, it’s on track to earn more than during that earlier period.

Source: Mint January 06, 2019 12:11 UTC