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Record-breaking oil production from the US has left OPEC with its lowest crude market share in nearly a decade
[BusinessInsider] Responding to this from yesterday.
  • The IEA said Thursday OPEC's share of the oil market has dropped to 51%, it's lowest since 2016.

  • That's thanks to record crude output from the US, Guyana, and Brazil, sharply higher production by Iran in 2023.

  • The IEA also said global oil demand has slowed sharply amid economic turmoil.

Posted by: trailing wife 2023-12-23
http://www.rantburg.com/poparticle.php?ID=686837