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Global Oil Market Moving Into Deficit – IEA

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The International Energy Agency, IEA, says the global oil market could move into deficit sooner than expected, following Organisation of Petroleum Exporting Countries, OPEC, output agreement with Russia and Canada’s decision to cut supply. The Paris-based IEA also retained its 2019 forecast for global oil demand growth of 1.4 million barrels per day, unchanged from […]

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Is OPEC Still Relevant To Global Oil Market?The just – concluded meeting of the acclaimed oil cartel group, the Organisation of Petroleum Exporting Countries (OPEC) has raised fears as to its continued relevance in the global oil market. FESTUS OKOROMADU writes. Precisely two years ago, in the last days of November 2016, Vienna became the epicenter of global oil developments. A ground-breaking […]
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