OPEC: Quotas ‘r’ Us

I’m always in awe at how the best way to predict OPEC production levels is to look at the current quota — and assume it won’t be that. You’ll pretty much always be right, as the following figure shows. It’s above the quota, below the quota, but pretty much never at the quota. [-]


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  3. The Real Price that OPEC Wants: Geese vs. Black Swans
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  5. Readings: Amazon, Andreessen, OPEC, Obama, China, etc.