Tag: oil and gas market
OPEC Take Steps to Stabilize Oil & Gas Market
OPEC (Organization of the Petroleum Exporting Countries) is attempting to stabilize the volatile oil and gas market. In combination with efforts by the G20 and International Energy Agency, OPEC’s new deal could result in a reduction of up to 20 million barrels of oil per day (bpd) from circulation, therefore decreasing excess stockpiles and helping to drive up prices.