Gulf producers to resist cuts at OPEC meet: analysts
Gulf oil producers, led by Saudi Arabia, will resist attempts to cut output at an OPEC meeting next month as preserving market share remains their top priority, industry analysts say./ A decision by the 12-member Organisation of Petroleum Exporting Countries not to cut production in November sent prices crashing 60 percent before a partial recovery in recent weeks. Gulf and other OPEC members said they wanted to safeguard their share of a market that has faced a supply glut as a result of sharp increases in the production of shale and sand ...
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