It looks like OPEC, the group of oil-producing nations, won’t ramp up production any faster than planned, despite low inventories and rising prices across the world. Oil is about $75 a barrel now, up around 13 percent in the last month. And expensive oil makes pretty much everything else more expensive.
Why is OPEC so reluctant to increase supply to bring the price down? Is it just trying to squeeze people? Or is it a sign they aren’t really that confident in the global economic recovery? NTD asked Daniel Lacalle, author of “The Energy World is Flat” and now managing $6 billion at the Tressis hedge fund.
