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The GCC and the Global Oil Market in 2016

  • Giacomo Luciani
Publisher: Gulf Research Center
Date of Publication: Mar 2017
Publications Categories: Research Papers & Analysis


The complex birth of the November 30th agreement within OPEC, and between the latter and some non-OPEC major oil exporters, was the salient oil market event of 2016. The agreement aims at limiting production and stabilizing the global oil market, with the hope that prices might increase somewhat, thus improving the distressed financial conditions of most oil exporting countries.

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