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Opec ,Non-Opec cannot melt together

OPEC
OPEC Share

Oct,21 2016 OPEC Countries invited eight non-member Countries , including Russia to reduce the Oil surplus that has sent oil prices below $50 a barrel .

Venezuela has been lobbying for OPEC and non-OPEC summit next month to “on the state of the market. But most countries, including Russia, and the gulf are reluctant.However, although the meeting was attended by the national representatives of OPEC member countries , and was given a low profile

. .

However, the message is clear, and the market has already taken note that :

1-OPEC, in its next meeting in Dec 4, will walk out without any production cuts, and will keep the same policy of "Market share".

2- the second message is , OPEC and Non-OPEC cannot “melt together" into a harmonious whole with a common goal. The two must co-exist separately. " OPEC " is an organization or a "Special Club" , the rest are non organized countries .

3-The third message is ,Russia is flattering Saudi Arabia by backing "The Gulf Market Share Policy", a change in Russian earlier stance over oil prices The conclusion is , according to the Russian, there is no guarantee that a production cut will increase the price,and "Any production cut at this stage might lead to reduced revenue and also reduced market share share,and will damage investment in the oil sector"