| After months of preparation, talks between producers in Doha failed to deliver anything to end the global oil glut. Yet, Kuwait has managed that by itself in just a few days.
A labor strike that began Sunday has slashed the Persian Gulf nation’s output by 60 percent, shuttering 1.7 million barrels a day -- slightly more than the surplus sloshing around world markets in the first half of the year. That oversupply caused prices drop to a 12-year low in January...............................................Full Article: Source
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