OPEC Is In the Catbird Seat — Again
Synopsis: The U.S.’s inability to lower its consumption of oil has helped put OPEC in an advantageous position, again. Even worse, the world’s largest economy remains vulnerable to another quest by OPEC to explore the market’s maximum price for oil — a tactic that could tip the U.S. economy into another recession.
OPEC, producer of about 40% of the world’s oil, is in the catbird seat, once again.<p>
Now, you’re probably thinking, “When hasn’t OPEC been in the catbird seat?”
