Opec strategy to go full throttle begins to backfire

New York

THE costs of Opec's plan to protect members' share of the oil market by out-producing rivals are mounting.

As oil prices slump to six-year lows, the risks of worsening political turmoil are rising in the organisation's most vulnerable nations. This includes Algeria, Iraq, Libya, Nigeria and Venezuela, a group dubbed the "Fragile Five" by RBC Capital Markets Ltd.