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The issue has provoked an unprecedented debate in OPEC. Should the cartel keep the global supply of oil low to push prices (and profits) higher for as long as the world is buying oil? Or—breaking 61 years of OPEC’s profit-maximization strategy—should it actually pump more oil now, despite the lower prices that would entail, in order to monetize its reserves while it still can?
The issue has provoked an unprecedented debate in OPEC. Should the cartel keep the global supply of oil low to push prices (and profits) higher for as long as the world is buying oil? Or—breaking 61 years of OPEC’s profit-maximization strategy—should it actually pump more oil now, despite the lower prices that would entail, in order to monetize its reserves while it still can?
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