OPEC, Oil and a Paradox

Already under pressure to pump an additional 1.5 million barrel into the market each day, the organization may well decide to make such a commitment in the hope of easing the current prices.

Such a move, however, could produce the opposite effect. Here is why. First, OPEC, although no longer the key player it once was in the global oil market, is still the only producer with a significant and easily tapped reserve capacity. In a sense Saudi Arabia’s extra million or so barrels of excess capacity provides the safety wheel for the global energy market.
MoroccoTimes