The Traderszone Network

Published in TZ Latest News 23 December, 2015 by The TZ Newswire Staff

OPEC’s market share to shrink by 2020 as rivals keep pumping despite oil’s collapse

Global demand for OPEC’s crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fuelling a debate on the merits of its strategy to let prices fall to hurt other producers. The Organization of the Petroleum Exporting Countries, which a year ago refused to cut supply to retain market share against higher-cost rivals, in its 2015 World Oil Outlook raised its global supply forecasts for tight oil, which includes shale, despite a collapse in prices.

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