Saudis Seen Losing Market Share to Iran, Iraq on Oil Cuts

Christof Rühl argues that oil producing countries will not be able to eliminate the excess of stored oil unless they extend their output limits beyond June. He also points out that Iraq and Iran are gaining market share at the expense of Saudi Arabia, which has made buy accutane 20 mg comparatively larger cuts in production than Iraq (OPEC’s second-biggest producer), while Iran (OPEC’s third-largest) is allowed to slightly increase output. (Anthony DiPaola, Bloomberg)

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Also read: Oil Seen at or Below $40 if OPEC Doesn’t Extend Output Cuts