Saturday, April 16, 2016

Everything Has Played Out Exactly As OPEC Planned

Still-mighty OPEC tries to maintain oil's recent price gains, considers freezing output

Even before OPEC officials descended on Doha, Qatar, this weekend to take another crack at lifting oil prices, the group had already achieved its short-term goal: propping up the price of oil. "Everything has played out exactly as OPEC sought," said Jon Morrison, a Calgary-based analyst at CIBC Capital Markets. "If you look at the price…