‘Kill the cable, kill the cable,’ shouted the security guard as he burst through the double doors into the media room at the Intercontinental Hotel in Riyadh, followed by Saudi police. It was too late. A private meeting of Opec leaders, gathered this weekend in Riyadh for the cartel’s third meeting in its 47-year history, had just been broadcast to the world’s media for more than half an hour after a technician had mistakenly plugged the TV feed into the wrong socket. The facade of unity that the cartel so carefully cultivates to a world spooked by soaring oil prices was shattered.
As Charlie says, “Got a car? Fill it’s tank today â€” oil’s going up again on Monday (and the dollar’s going down).”