Energy
3 years ago

Global oil prices stabilized at $60-70/barrel due to OPEC+ agreements.

SSRN Electronic Journal
World Oil Market: Prices Have Stabilized
Yuri Bobylev

Paper Summary

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The OPEC+ agreements to reduce oil production have helped stabilize global oil prices at $60-70 per barrel. By extending these restrictions for another nine months, the world oil market is expected to remain stable despite increased oil production in the US and a slowdown in global economic growth.