Will OPEC Defend Oil Prices Or Let the Market Completely Take Control?

With the OPEC meeting ahead of us next week, there are two main questions on the table for discussion: Should OPEC let the market set oil prices and determine what crudes are economical to produce, and will it cut production to stabilize prices in a world with a revitalized U.S. and Canadian production regime? 

In Genscape's latest guest blog post, "Will OPEC Defend Oil Prices or Let the Market Completely Take Control?," Dominick A. Chirichella of Energy Management Institute discusses the uncertainty surrounding OPEC's decisions in answering those two questions, and the implications of next week's meeting on OPEC as an organization and for oil prices in the global market.