Home pagePress CenterIn the Media Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Associated Press, "Oil Industry Giants To Discuss Lowering Prices."
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Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the Associated Press, "Oil Industry Giants To Discuss Lowering Prices."
RIYADH, Saudi Arabia (AP) — Oil-industry heavy hitters likely won't agree on any solid action to lower oil prices in the short term during a special weekend meeting convened by this production giant.
When so many countries have been invited to such a gathering and nothing comes out of it, "you don't change the philosophy of the market," said Frank Verrastro, director of the energy and national security program at the Washington-based Center for Strategic and International Studies.
"I'm afraid that they may agree on the various factors but I don't know that they have a remedy is I guess the concern," he said.
The Center for Strategic and International Studies (CSIS) is a private, tax-exempt institution focusing on international public policy issues. Its research is nonpartisan and nonproprietary. CSIS does not take specific policy positions; accordingly, all views, positions, and conclusions expressed in these publications should be understood to be solely those of the authors.
