Big Oil Urges OPEC: Keep Floor Under Oil Prices

The oil market and analysts already largely expect OPEC to extend the production cut deal beyond March 2018, which many feel would finally rebalance supply and demand.   OPEC’s new tagline is indeed all about restoring oil market stability and sustained stability in the global oil industry—these, OPEC says, are its main policy drivers. While the organization is said to favor extending the deal throughout 2018, and as its leader Saudi Arabia continues to spray the market with its ‘whatever it takes’ promises, now major…

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