Commodity Trade Mantra

Posts Tagged ‘Petroleum Ministry’

Why OPEC Oil Production Freeze Could Pave The Way For Actual Cuts

The purpose of the Doha agreement is to put a floor under crude oil prices—and as a first step in raising prices in the future. The freeze is a starting point, which, over time could lead to production cuts as major non-North American producers gain confidence in the intentions of their fellow producers and therefore bring forward balancing the global crude oil market.

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