OPEC's bi-annual meeting kicks off Thursday in Vienna. Here's what to watch.
OPEC hosts its bi-annual meeting on Thursday in Vienna, Austria. It will be important, interesting and unusual on a number of levels.In September, Saudi King Salman bin Abdulaziz abruptly replaced his nation's energy minister with one of his sons. The shift wasn't just administrative. It could also signal a shift in strategy for the Saudis.
An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019.The U.S. oil and gas industry is near a tipping point. Shares of energy companies have collapsed this year, with thedown 40.7% in 12 months. Much of that drop is because oil prices have been stubbornly stuck in the mid-$50 dollar range, which isn't enough to give many debt-heavy U.S. producers the cash flow they need and that investors now demand. Bankruptcies among U.S.
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