The riddle of Opec

Opec is an organisation riddled through with contradictions. It has ceded control of the oil market in an attempt to retain control of it. It is tackling high-cost oil by making low-cost oil expensive to produce. It talks of a market rebalancing being just around the corner but on the same day its most high-profile individual insists such a move will take an unspecified amount of time.

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Crude prices 2016: What lies ahead?

What will the global crude market look like this year?

2015 saw global production racing ahead of demand and prices continuing to fall. US output rose and Opec maintained a Saudi-led campaign to defend market share.

Conflict in producing regions, Iran’s return to the market, falling US light crude output and slowing demand growth are some of the factors that will determine the direction of the market this year.

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