Diminishing cartel

January 30, 2016 01:00 PM

The price of crude oil is on everyone’s mind and key to that was the early December annual meeting of OPEC. A little over a year ago OPEC shocked the world, not by deciding to restrict the flow of oil but by attempting to drown it in it. Below is a chart of the proven reserves of OPEC and non-OPEC oil producers.

Which countries own the reserves represented by green?

OPEC countries: Iran

Non-OPEC: United States

About the Author

Editor-in-Chief of Modern Trader, Daniel Collins is a 25-year veteran of the futures industry having worked on the trading floors of both the Chicago Board of Trade and Chicago Mercantile Exchange.