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Tension in OPEC as oil prices rise and Saudi Arabia raises concerns
Saudi Arabia says that it wants OPEC to increase oil production to keep the price of oil down. Some think that high oil prices could, in fact, threaten the global economy.
Photo of an oil rig (Image by Flickr user Jim Hatter (cc:by))
If OPEC doesn’t agree to increase oil production, Saudi Arabian officials have hinted that the country might increase production on its own. Today’s OPEC meeting in Vienna is filled with tensions over oil prices, economics, and global politics. The Takeaway talks with Bhushan Bahree, IHS CERA Senior Director of Global Oil, and Julian Lee, senior energy analyst at the Center for Global Studies, about the meeting.
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“The Takeaway” is a national morning news program, delivering the news and analysis you need to catch up, start your day, and prepare for what’s ahead. The show is a co-production of WNYC and PRI, in editorial collaboration with the BBC, The New York Times Radio, and WGBH.