Big Oil Urges OPEC: Keep Floor Under Oil Prices

The oil market and analysts already largely expect OPEC to
extend the production cut deal beyond March 2018, which many feel
would finally rebalance supply and demand.   OPEC’s new
tagline is indeed all about restoring oil market stability and
sustained stability in the global oil industry—these, OPEC says,
are its main policy drivers. While the organization is said to
favor extending the deal throughout 2018, and as its leader Saudi
Arabia continues to spray the market with its ‘whatever it takes’
promises, now major…

The oil market and analysts already largely expect OPEC to
extend the production cut deal beyond March 2018, which many feel
would finally rebalance supply and demand.   OPEC’s new
tagline is indeed all about restoring oil market stability and
sustained stability in the global oil industry—these, OPEC says,
are its main policy drivers. While the organization is said to
favor extending the deal throughout 2018, and as its leader Saudi
Arabia continues to spray the market with its ‘whatever it takes’
promises, now major…