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Grant SmithNY Daily News |
Key nations led by Saudi Arabia and Russia agreed to add 411,000 barrels a day next month, OPEC said after a video conference on Saturday.
“OPEC showed it couldn’t ignore the current macroeconomic economic realities centered on China and Europe, which point to weaker oil demand growth...
“It doesn’t look good at all for OPEC in 2025. Everybody would agree that non-OPEC supply is strong enough to create a surplus in the market."
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