OPEC gulf producers look to stay the course for now
A global over-supply of crude oil has sent the price for the commodity down to historic lows since June of 2014, when the prices for Brent and WTI crude were above $115 and $107 per barrel, respectively. Much of the decline in the prices came following the decision from OPEC to shrug off its traditional role as swing producer, instead opting to defend the organization’s global market share by continuing to produce at record rates.

The move has hurt producers worldwide, including those in O...

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