Brent oil sinks 3%, then recovers after unofficial denials about a forthcoming goodbye. Abu Dhabi has been claiming a stronger role in the Organization for years, now there is growing friction with the Saudis (also on other fronts)
by Sissi Bellomo
United Arab Emirates out of OPEC. Or maybe not. The hypothesis of an imminent, serious fracture in the Organization of Petroleum Exporters has shaken the market, sinking Brent prices by about 3% in a few minutes before recovering around 86 dollars a barrel, up by more than ‘1%. The rebound occurred after the denials of qualified (albeit anonymous) sources, conveyed by the major international news agencies.
Thus, at least for now, the relieved nervousness has died down…
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