Opec faces longer-term challenges
OPEC never really worked after the oil shocks. But as long as money is plentiful it’s easier to paper over the cracks that have always been there. Reality, though, has a way to come through all the time. The countries are very different from each other. The UAE may see a future that’s not entirely oil-dependent. Time for the members to each face their own particular demons and deal with them instead of submitting to a group policy that works for none.
