OPEC’s next meeting at the end of November is set to be one of the oil-producing cartel’s most fraught in years, as it grapples with falling oil prices. But is there anything OPEC can realistically do to send oil prices back up? Despite a small recovery Friday, oil prices’ slide has been precipitous. The global benchmark Brent crude has fallen by over a quarter since early June, to around $86 per barrel. During past oil slumps the Organization of Petroleum Exporting Countries has often cut supply to try to support prices. In 2008, as the financial crisis caused a collapse in demand and oil spiraled downwards, the group slashed 4.2 million barrels a day from its output quota over a series of tense fractious meetings, ultimately stabilizing the market. The 12 countries that make up OPEC still collectively […]