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Saudis could face revolt from Opec members

The Saudis' decision last year to let the oil market determine prices has inflicted intense economic pain on their fellow Opec members and other oil producers.

Published Wed, Aug 26, 2015 · 09:50 PM
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OPEC (the Organization of the Petroleum Exporting Countries) next gathers on Dec 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous Opec winter meeting the Saudi decision to let the oil market determine prices rather than to continue Saudi Arabia's role of guarantor of US$100-plus per barrel of oil.

Despite the i…

KEYWORDS IN THIS ARTICLE

Opec
Saudi Arabia

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