OGJ Newsletter

Market MovementOPEC defending oil prices with output strategyIs "just-in-time" production the new buzzword that defines OPEC's approach to oil markets?Simply put, this term merely reflects OPEC's aggressive efforts to cut or hike production quotas in response to anticipated demand levels, not merely the lagging reactionary approach of the past. Others have called it "fine-tuning" or "micromanagement"-but not necessarily in approving tones.In any event, "OPEC continues to assert that the world economy can handle $25/bbl oil prices and that, if there is any concern about where this puts end-user prices, then consumer governments should reduce the taxes they impose on oil," said UBS ...

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