OPEC Could Double Its Control Over Oil Market ...Middle East

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OPEC Could Double Its Control Over Oil Market
source : OILPRICE ( Middle East ) () 19
OPEC could double its control over the oil market, to between 70% and 80%, according to Lukoil's Vice President. OPEC will win its increased share by default, Leonid Fedun, Vice President for the strategic development of Lukoil, told reporters on Monday, according to Russian media outlet Tass. As climate policies continue to weigh on the oil markets, the oil market is expected to contract—a situation that will increase OPEC countries' share of the global oil market from 30% today to nearly 70-80%. Fedun did not specify the timing of this…

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