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Is A Second OPEC Cut On The Cards?
Posted by BFP Staff on Mar 15, 2017 at 09:31 AM
The supply-cut deal has so far resulted in a surprisingly high OPEC compliance of more than 90 percent.
By Tsvetana Paraskova for Oilprice.com
OPEC’s coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. But resurging U.S. shale has been capping the upside, and Brent has not breached US$58 per barrel. Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.
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