OPEC AND THE BATTLE FOR MARKET SHARE
As the prices of crude plummet to its lowest level in nearly a decade, the ability of members of Organisation of Petroleum Exporting Countries (OPEC) to reclaim its market share has become a concern to stakeholders.
Oil prices fell for a seventh straight session on Monday, coming close to 11-year lows, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non-OPEC producers.
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