{"id":3052,"date":"2011-06-06T13:57:20","date_gmt":"2011-06-06T13:57:20","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=3052"},"modified":"2011-06-06T13:57:20","modified_gmt":"2011-06-06T13:57:20","slug":"disunity_in_the_organization_o","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=3052","title":{"rendered":"Disunity In The Organization of the Petroleum Exporting Countries (OPEC)"},"content":{"rendered":"

Bloomberg.com<\/a> reported yesterday that OPEC members meeting in Vienna this week find themselves on both sides of a military conflict in the Middle East.  This has not happened since Saddam Hussein invaded Kuwait in 1990.  <\/p>\n

The article reports:<\/p>\n

\n

“While Libyan leader Muammar Qaddafi is trying to quash a rebellion in a country that holds Africa’s largest crude reserves, Qatar, Kuwait and the United Arab Emirates are backing the insurgents.”<\/em><\/p>\n<\/blockquote>\n

The article points out that OPEC will probably leave its targeted output of oil unchanged at its current meeting.  As oil hovers around $100 a barrel, there are indications that the world economy is slowing down.  <\/p>\n

The article further reports:<\/p>\n

\n

“While the group’s 12 members may not reach a formal agreement to increase quotas this week, “an informal pact to ramp up production, most likely by OPEC’s Gulf members as well as Nigeria, may emerge,” the IEA said in a May report. The agency, which advises oil-importing nations, said in April that “revisiting individual production targets may be difficult now,” amid tensions stoked by the Libyan conflict and a political crisis in the Persian Gulf state of Bahrain.”<\/em><\/p>\n<\/blockquote>\n

Two of the forces currently putting upward pressure on the price of oil are the devaluation of the U. S. dollar and the increasing demand for oil from China.  <\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberg.com reported yesterday that OPEC members meeting in Vienna this week find themselves on both sides of a military conflict in the Middle East.  This has not happened since Saddam Hussein invaded Kuwait in 1990.  The article reports: “While Libyan leader Muammar … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3052","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/3052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3052"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/3052\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}