Price wars and power-play over oil supply

OPEC, which accounts for around 80 per cent of the world’s crude oil reserves, meets as prices hit four year low.

Price wars and power plays over global oil supplies.

Ministers from the world’s major exporters meet as prices hit a four year low.

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Together the 12 countries that make up the Organization of the Petroleum Exporting Countries, known as OPEC, account for around 80 per cent of the world’s crude oil reserves and about a third of global production.

But who is setting the agenda? And is politics having an impact on production? Is the cartel’s influence on the wane?

Presenter: Jane Dutton

Guests:

Cornelia Meyer – an independent energy expert, and chairman and CEO of MRL Corporation.

Mark Lewis – group vice chairman and managing director of Facts Global Energy London.

Mikhail Krutihin – partner at the RusEnergy Consulting Agency.