OPEC Faces Perfect Storm of Global Supply Glut, Internal Tensions

Last week, OPEC decided to leave its production ceiling unchanged at 30 million barrels per day, the target that it set two years ago, a decision that seems to reflect OPEC's satisfaction with current high oil prices. Yet, in reality, OPEC's inaction masks its members' inability to agree on a strategy to avert the threat of a widely anticipated supply glut in world oil markets as internal tensions build.

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