(303) 309-1185

Rumbling in OPEC Ranks??


HOUSTON, Dec. 3, 2015 — Dan K. Eberhart, the CEO of Canary, LLC, one of the largest private oil field service companies in America, doesn’t expect OPEC leaders to reduce oil production as a result of their meeting Friday in Vienna, Austria. However, Eberhart does expect that decision could mean a “family feud” between Saudi…

HOUSTON, Dec. 3, 2015 — Dan K. Eberhart, the CEO of Canary, LLC, one of the largest private oil field service companies in America, doesn’t expect OPEC leaders to reduce oil production as a result of their meeting Friday in Vienna, Austria. However, Eberhart does expect that decision could mean a “family feud” between Saudi Arabia and fellow OPEC nation members.

“Saudi could end up with egg on its face if, as many industry analysts predict, they decide once again against slowing production, which could mean a further decrease in the price of oil per barrel,” Eberhart said. “This will not sit well with other OPEC countries who will likely be hit hard by an additional dip in price.” Eberhart said he expected them to put the pressure on Saudi Arabia to change its current course of action.


Jacob Eberhart Avatar