Opec: kicking back against transparency?
As new technologies trump its modest initiatives, Opec may see value in telling the market less, and less predictably
Oil market watchers hoping to discern why Opec has cancelled its customary April meeting might take a clue from the poker expression of playing cards close to one's chest. While potential strains over the Opec+ production agreement and uncertainty over future US decisions on Iran and Venezuela are credible explanations for the unusual decision to cancel the meeting, it is possible that Opec is discerning a value in becoming less predictable in its information sharing. As recently as February this year, the cartel put out an 88-page special report trumpeting its various initiatives in support of market transparency and dialogues with other organisations. It did so on the basis that "only thro
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