How Russia Outsmarted OPEC

Tuesday, December 6, 2016
By Paul Martin

by Irina Slav via OilPrice.com,
ZeroHedge.com
Dec 6, 2016

Russia, along with Iran, could turn into the big winner of the agreement, enjoying high output and higher prices, which would allow it to further expand its global market share. Unless, of course, OPEC lies, as former Saudi Oil Minister Ali al-Naimi plainly said this week. “Unfortunately,” he said, “we tend to cheat,” commenting on how OPEC handles its only tool of market rebalancing: production cuts.

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