OPEC says oil glut 'may ease' by 2017 as non-cartel supply drops
OPEC
Vienna - Arab Today
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OPEC said Friday a global crude glut that has squeezed the market and sent prices plunging over the past year "may be easing" as a result of countries outside the oil producing cartel dropping their production. "There have been consistent signs of declines in non OPEC-production which should likely flip the global oil market into a net deficit in 2017," the Organization of the Petroleum Exporting Countries noted in its May report. |
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