As expected, OPEC leaders Saudi Arabia and UAE have reached a so-called solution to the current export quota conflict. For two weeks, the global oil market was shocked by the strong position taken by Abu Dhabi’s power brokers, which demanded higher baseline production quota. OPEC sources now have stated that both countries have reached a compromise on production.
Even that the first reactions to the so-called agreement which includes a higher base line production level for the UAE are positive, the deal in reality is nothing more than…The Conflict Within OPEC Is Far From Over
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