| The only way for oil producers to cope with the low price of crude is to hike rather than cut production, an industry analyst told CNBC. Natixis Lead Oil Market Analyst Abhishek Deshpande said that both the Organization of Petroleum Exporting Countries (OPEC) and Western producers were working hard to maintain oil levels—simply as a matter of self-preservation.
"They're left with no choice," Deshpande told CNBC on Monday. Both OPEC and Western producers want to keep production high, but their motivations are different, said Deshpande...............................................Full Article: Source
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