Energy Quote of the Day: ‘[OPEC] Cannot Continue Protecting a Certain Price’
By Jared Anderson
Implicitly
or explicitly Opec countries are battling with US oil producers over
the commodity price. There is much evidence to suggest that given US
production growth volumes – Gulf Coast output alone is up 1.9 million
barrels per day since 2010 – and weak global demand, Opec could only
marginally impact prices by cutting production.
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