ASSESSMENTS

OPEC: The Largest Cut Ever

Dec 17, 2008 | 19:49 GMT

FAYEZ NURELDINE/AFP/Getty Images

Summary

The Organization of the Petroleum Exporting Countries announced a planned production cut Dec. 17. The move is an attempt to stop the slide in global oil prices, but there are a number of reasons to question whether it will have any substantive effect.

The Organization of the Petroleum Exporting Countries says it plans to reduce output by more than 4 million barrels per day, twice the expected amount. But will the cuts matter?...

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