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Current OPEC Deal and its impact on Oil Market

Current OPEC Deal and its impact on Oil Market

The Iraqi oil minister Thamer Ghadhban earlier said that an agreement between OPEC and its allies to expand oil output cuts until the end of March 2020 will decrease inventories. He added it would help to stabilize the market and address price irregularity. Ghadhban discussed OPEC’s position on oil prices and said the general view of 70 U.S dollars per barrel or higher was acceptable. He added the producer group sought prices that were fair to both producers and consumers….

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