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The One Indicator OPEC Must Watch
Posted by BFP Staff on Dec 7, 2017 at 09:49 AM
OECD stocks vs 5 year-average
By Nick Cunningham of Oilprice.com
“We will not let go of our current approach until we reach a balanced market,” Saudi oil minister Khalid al-Falih said Monday at a news conference in Riyadh.
OPEC ended months of speculation last week when it decided to extend its production cuts through the end of 2018, easing concerns that the limits would be lifted before the oil market was ready. But while it put some uncertainty to rest, the next question is what OPEC does when the oil market becomes “balanced”? What is the exit strategy?
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