In a world swamped with cheap, unsold crude oil, the powerful petroleum cartel needs Vladimir Putin to join it as it considers trimming production
On Thanksgiving Day, the most powerful oil cartel in the world, the Organization of Petroleum Export Countries, will be facing a dilemma: too much of a good thing.
There’s too much oil in the world, and not enough buyers. There are 2m barrels per day of crude oil production that don’t have a home, according to the International Energy Agency.