Midstream & Transport Monitor - May 6, 2016
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Julian Lee, a London-based oil strategist for Bloomberg News, offered some salient points on OPEC’s role in today’s world. OPEC’s goal has always been to safeguard the interests of its member countries, noted Lee. The organization’s members are diverse, consisting of one group of countries with low-cost, high per-capita production: Kuwait, Qatar, United Arab Emirates (UAE) and Saudi Arabia, and a second group with mixed-cost, low per-capita production: Angola, Venezuela, Libya, Ecuador, Iraq, Algeria, Iran, Nigeria and Indonesia.