17.07.2013 - For OPEC, the first cut is likely to be the easiest: Kemp
Sooner or later OPEC members will have to reduce output to reflect their reduced share of the global oil market. The organisation's members must come to terms with diminished demand for their crude as a result of booming shale oil production in North America and strong production growth in several other regions. The only real questions are how much of the burden of cutting production will fall on Saudi Arabia and whether they will be implemented through the framework of OPEC or unilaterally...............................................Full Article: Source
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