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They're not countering falling demand, so much as trying to keep prices high in the face of a wall of supply from the US. They're constraining their own supply,
by adventured 7y ago
They're not countering falling demand, so much as trying to keep prices high in the face of a wall of supply from the US. They're constraining their own supply, while the US absorbs most of the demand growth. OPEC's forecast for 2019 remains for an expectation of about a million barrels per day of global growth, mostly coming from India and China.