Oil markets face uncertain future as OPEC targets competitors
The determination of powerful Gulf OPEC members to stifle competition from new oil producers has left the global energy market reeling and sparked unprecedented uncertainty, officials and experts say./ Gathered in Abu Dhabi for a key conference, senior energy officials from Arab Gulf nations insisted they will not cut production despite the freefall in oil prices. A supply glut, lower demand and the stronger US dollar have all contributed to pushing down oil prices, which have dropped nearly 50 percent since June to around $60 a barrel. ...
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