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OPEC's market power is 'less than you would imagine' and the US doesn't need to get fussed over the cartel, State Dept. official says

By Yahoo! Finance   |   1 week ago
OPEC's market power is 'less than you would imagine' and the US doesn't need to get fussed over the cartel, State Dept. official says

New oil producers and China's slowing economy challenge OPEC's dominance. The US, Canada, Brazil, and others are becoming influential in the market. The US shale boom weakens OPEC's grip, raising doubts about its future relevance.

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