OPEC ‘Has Lost Credibility’ Over Price Stability: CGES

The Organization of Petroleum Exporting Countries (OPEC) has lost its credibility as a guarantor of price stability, the Centre for Global Energy Studies (CGES) said in its monthly report published Monday.

“OPEC has lost credibility as a guarantor of stable oil prices and its claims that it is doing all it can to ease oil prices are starting to sound rather hollow”, the CGES said.
Forbes