Only weeks ahead of the upcoming OPEC meeting scheduled for June 2, Russia’s top oilman delivered what could be interpreted as OPEC’s eulogy. In an interview with Reuters published on May 10, Igor Sechin, who leads Rosneft as chairman of the board, said that OPEC “has practically stopped existing as a unified organization.” The even more pessimistic, if not fatalistic, sentiment that “OPEC is dead” was heard at the OPEC governor’s meeting on May 5.
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