OPEC’s Future Is Increasingly Uncertain

OPEC tends to live in the public mind as a monolithic, unshakeable structure—except when oil prices drop. Yet the group is not as homogenous or, indeed, unanimous as it may see. And its members' different interests may, at some point, threaten its survival. At their last ministerial meeting in June, OPEC leaders decided to extend their voluntary production cuts into 2024. They also decided to adjust the quotas of those members that were finding it hard to reach previously agreed production levels. Meanwhile, OPEC apparently approached Guyana…