As OPEC Pursues Oil Supply War, Here’s Who Has Most Firepower - Bloomberg:
With the shackles of OPEC’s output limits thrown off and a price war underway, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.
But making up in volume for what they’re losing in price is looking increasingly difficult as the coronavirus pandemic eviscerates demand. What’s more, some producers, like Iraq and Libya, are facing political and security stumbling blocks to increasing production.
With the shackles of OPEC’s output limits thrown off and a price war underway, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.
But making up in volume for what they’re losing in price is looking increasingly difficult as the coronavirus pandemic eviscerates demand. What’s more, some producers, like Iraq and Libya, are facing political and security stumbling blocks to increasing production.
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