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The decision OPEC faces at this month's meeting isn't just over whether to cut oil production.The Organization of Petroleum Exporting Countries, buffeted by plunging prices, could reassert control by cutting output, said Societe Generale SA, ceding more market share to U.S. shale oil producers.U.S. output surged 14 percent in the past year to 8.97 million barrels a day, the highest in U.S. Energy Information Administration data beginning in 1983 .OPEC's own estimates show its share of the global oil market shrinking to 37 percent in 2017 from 40 percent last year.OPEC would need to cut production by 1 million to 1.5 million barrels a day to eliminate the supply glut and boost prices, Wittner estimates. OPEC produced 31 million barrels a day in October, 3.3 percent above its target of 30 million barrels.OPEC's 12 members are divided over how to respond to Brent crude's plunge to its lowest in four years.
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