This has been repeated a million times already
The bottom line: Everyone is in favor of the other guy cutting production. Or will only cut if everyone else does so too (and even in that case they'll violate their quotas).
The solution to low oil prices is lower oil prices.
El-Badri, who is OPEC's general secretary, also said that oil at $80 by 2020 would be good for producers and consumers. You know what's even better for consumers? $20 oil.
