You're correct, OPEC has been around for almost six decades and still wields significant power. Yet, is it perhaps possible that it has less than it used to? T

You're correct, OPEC has been around for almost six decades and still wields significant power. Yet, is it perhaps possible that it has less than it used to? The days when OPEC could single-handedly crash the economies of much of the Western world are mostly gone. There's too much oil production outside of OPEC nations. American frackers have shown an extraordinary ability to respond quickly to price rises, checking them and OPEC's power both. OPEC is holding together as a group and cartel! But, outside pressure and internal political differences have severely weakened it...