Opec losing market share in lieu of high oil prices isn’t sustainable
In the medium term, the kingdom’s strategy of restricting output to prop up prices is unsustainable; it is conceding too much market share to shale and other non-Opec producers
21 June 2019 - 05:08
London — Oil cartel Opec’s share of the global oil market is progressively eroding as it attempts to keep prices artificially high by restricting its own production.
Opec’s share of global production fell to just 41.5% last year, the lowest since 2003, according to figures contained in the latest edition of the BP Statistical Review of World Energy, published on June 11...
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