‘OPEC is not effective,’ says Malaysia’s prime minister

November 12, 2018@4:18 PM TFP Editor 0

The Organization of the Petroleum Exporting Countries hasn’t been effective in stabilizing oil prices, which have been more dependent on U.S. shale production than the actions of the intergovernmental group, said MalaysianPrime Minister Mahathir Mohamad. “OPEC is not effective. They are always at loggerheads with each other so they cannot make decision,” Mahathir told CNBC’s Sri Jegarajah in a Monday interview. The Malaysian leader was asked whether the group should take further action to stabilize […]