| OPEC's policy of maintaining high oil production risks heaping more downward pressure on oil prices, especially with Iranian crude set to enter the global marketplace, analysts say. While lower prices eat into the revenues of the oil cartel's members, cheap crude may result in lower production from non-OPEC nations -- helping countries like Saudi Arabia preserve their market share.
The Organization of the Petroleum Exporting Countries decided at its meeting in Vienna on Friday against cutting the cartel's oil output despite sliding prices and ahead of higher production from Iran next year...............................................Full Article: Source
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