OPEC’s June Oil Market Report reiterates maintaining stable market share, letting growing demand and non-OPEC production cuts bring balance
OPEC’s decision last November to maintain production in the face of global oversupply came as a shock to many who expected that the organization would defend prices like it had in the past. Prices tumbled, sending economic shockwaves around the globe, including in some of OPEC’s own member nations. In the group’s June Monthly Oil Market Report (OMR), it reiterated its commitment to stable markets, despite...


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