OPEC is Determined to Keep on Pumping

Under Saudi Arabia’s leadership OPEC is expected to “keep pumping oil vigorously despite the resulting financial strain.” Some of the smaller, weaker OPEC members would like to see production curbed, however unless non-OPEC countries like Russia would “join coordinated output cuts” no change in production quotas is expected. Before the six-month meeting in December a delegate from a major OPEC producer said, "Unless non-OPEC say they are willing to help, I think there will be no change. OPEC will not cut alone."