How Russia Outsmarted OPEC
by Irina Slav via OilPrice.com,
ZeroHedge.com
Dec 6, 2016
Russia, along with Iran, could turn into the big winner of the agreement, enjoying high output and higher prices, which would allow it to further expand its global market share. Unless, of course, OPEC lies, as former Saudi Oil Minister Ali al-Naimi plainly said this week. “Unfortunately,” he said, “we tend to cheat,” commenting on how OPEC handles its only tool of market rebalancing: production cuts.
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