OPEC appear to be in disarray as they fail to agree a common policy, with the price of oil hurtling downwards. Initially it was thought this was a strategy to force US shale into bankruptcy but it isn’t working and the US is forging ahead with creating a substantial homegrown energy business. Experts now believe that the Permian Basin in to 6m barrels a day – more than the world’s biggest field in Saudi Arabia.
Take Middle Eastern oil out of the equation in a few years’ time and the whole political situation will alter.
OPEC was set up at a conference between 10 to 14th September 1960 in Baghdad, which gives it a risk-taking Jupiter in Sagittarius opposition Mars in Gemini square Sun Mercury in Virgo. Solar Arc Saturn is opposition Pluto at the moment bringing a stalemate and sense of deprivation. And everything looks to be slipping, sliding and deflating over the next several years, especially late 2016/early 2017; and worse in 2020.
The first Oil Strike chart, 28 Aug 1859 4pm Titusville, Pennsylvania, also looks undermined this year and worse by 2017.
Times are a changing.