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In the News

Will OPEC cut production to curb the declining price of oil?

Geoff Riley

26th November 2014

The 30% fall in the world price of crude oil in recent months undoubtedly has a bearing on prospects for the UK economy. Will the oil producer cartel OPEC act to limit output in a bid to stem the declining price of a barrel of black gold? Saudi Arabia looks to be the key player in this decision - they can produce oil more cheaply than anyone else.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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