2015-10-06 19:50:00
OPEC PRICE IS BETTER
OPEC sees the oil market improving because of higher demand for the group's crude and a drop in supply growth from non-members, its secretary-general said, the latest sign that OPEC believes its strategy of defending market share is working.
Oil prices have almost halved in the last year on oversupply in a drop that deepened after the Organization of the Petroleum Exporting Countries in 2014 changed strategy to protect market share against higher-cost producers, rather than cut output to prop up prices as it had done in the past.
"There is an improvement in the market," Abdullah al-Badri told reporters on the…
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