While many market experts were anticipating some respite from the ongoing oil slump after the Organization of the Petroleum Exporting Countries? December meeting in Vienna, their hopes seem to have been in vain. The OPEC, on Friday, announced that it will maintain oil production at record high levels of more than 30 MMbopd, in order to guard its market share in the oversupplied oil market. This suggests that the cartel will not be ruled by an official production target, at least until its next m...
While many market experts were anticipating some respite from the ongoing oil slump after the Organization of the Petroleum Exporting Countries? December meeting in Vienna, their hopes seem to have been in vain. The OPEC, on Friday, announced that it will maintain oil production at record high levels of more than 30 MMbopd, in order to guard its market share in the oversupplied oil market. This suggests that the cartel will not be ruled by an official production target, at least until its next m...
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