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OPEC Production Reduction Meanwhile May Increase Market Shares
Aug 14, 2017

The Organization of Petroleum Exporting Countries (OPEC) is currently taking the lead in reducing oil production to support oil prices, but at the same time the organization faces the risk of losing large market shares. British Petroleum Company (BP) pointed out that the member countries of OPEC, especially Saudi Arabia may not need to worry too much for the market shares, because the low oil prices will eventually make oil producers of higher production costs "expelled" the market and the shares eventually fall into the hands of oil producers of low production costs. British Petroleum Company (BP) predicted that OPEC's market shares will expand to about 43% by 2035.

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