Tighter production targets have failed to lift the price of oil

Climate change is causing worry for the leaders of OPEC. With the demand for oil declining with new advancements in energy usage, the price of oil is not going where they want it to. In early December members of OPEC will meet to discuss what they plan on doing with the slow-moving price rates of the oil they produce. This time last year they did almost the same thing, announcing that they were planning to restrict the amount of oil that the members of OPEC could produce in order to raise prices. The more open OPEC alliance will now have to decide if they will stick with last year's plan or will they make an even bigger cut in production.

Chloe Hart

https://www.economist.com/finance-and-economics/2019/11/14/tighter-production-targets-have-failed-to-lift-the-price-of-oil