OPEC Needed Russia to Get Oil Output Deal, So Russia's In Charge - Bloomberg:
If anyone doubted that OPEC is now little more than a zombie organization, the last 10 days have proved it.
The group has shown itself incapable of making it own decisions. Its smaller members have borne the brunt of an agreement to cut output that was only achieved after Russia took control of discussions from the heart of OPEC’s head office. Then, even after Saudi Arabia announced it would reduce supply by nearly a million barrels a day by January, oil traders merely shrugged.
It is a sad result for an organization that once made governments tremble. Here’s how it unfolded.
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