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OPEC Says Oil Prices Will Remain Low
Supply and demand haven’t reacted as strongly to oil’s slump as expected, and that means oil prices will stay lower for longer.
That’s according to OPEC, which said Tuesday we can expect a weak rebound in crude prices over the next four years, the Wall Street Journal reports. Part of that has to do with falling output from US shale fields, which will push up OPEC’s total share of the global market.
