19.10.2016 - OPEC Reversal Is Gift to Oil Majors After 2 Years of ‘Hell’

When the bosses of the world’s biggest oil companies gather in London on Tuesday, they might have the urge to track down the Saudi energy minister and shake him by the hand. After two years pursuing a Saudi-led strategy to pump without limits, pummeling industry earnings, OPEC has unexpectedly come to the aid of the oil majors. Last month, it surprised the market by deciding to cut production and put a floor under volatile crude prices.......................................Full Article: Source

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