Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
OPEC's recent deal to cut production of oil by 1.2 million barrels per day – about 1.3 percent of global production – indicates the collective need of all oil-producing countries (members and non-members of OPEC) to respond to the colossal decline of revenues due to low prices over the past two years.Saudi Arabia, which has been pumping oil at near-record levels recently, has seen a serious budget deficit in 2015 (minus 16 percent) and 2016 (minus 13 percent projected), despite serious attempts to curb public spending.Does the OPEC agreement indicate a major shift in Saudi oil policy?The refusal of OPEC (mainly Saudi Arabia) to cut production in the early days of the oil-price collapse in 2014 was widely perceived as an attempt to put the U.S shale industry out of business.
Urgent need for national energy dialogue in Lebanon
Trump and the future of Iran’s nuclear deal
With the Iran deal, the devil is in the details
FOLLOW THIS ARTICLE