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This R&D provides resources on the state of the global oil market. The Organization of Petroleum Exporting Countries (OPEC) recently reached a deal with other producers such as Russia to freeze levels of oil production in an attempt to stabilize oil prices. The agreed upon freeze will see producers cut back to January levels, but observers are still skeptical that the deal will hold. Global oil prices fell below $30 per barrel at the end of last week and Iran is deemed as a wild card. The Islamic Republic says that it can abide by the freeze, but it also wants to increase production after being freed from Western sanctions.
Oil is now so cheap even pirates aren’t stealing it any more https://t.co/olkXNsUrWl
— Quartz (@qz) February 22, 2016
OPINION: The dilemma surrounding #oil production cuts. Columnist @Sadekrikaby writes: https://t.co/ITHMosfSTf — Al Arabiya English (@AlArabiya_Eng) February 22, 2016
Commentary: Oil prices poised to remain low as Saudis ‘blink’ https://t.co/pPPH25gER7
— The Japan Times (@japantimes) February 21, 2016
U.S. official doubts success of deal to freeze #oil output https://t.co/wRLiY8MgOr | by @nidhi712 pic.twitter.com/H2VqqtaL24 — Reuters India (@ReutersIndia) February 22, 2016
Energy meeting convenes under cloud as low oil prices continue to exact a punishing toll on the industry https://t.co/JhwWMVZtaz — Wall Street Journal (@WSJ) February 21, 2016
Oil prices remain low, but some deals might be in the works soon to shake up the industry https://t.co/GfdpXIDMRI — Intl. Business Times (@IBTimes) February 21, 2016
Quora Question: Why Is Saudi Arabia Pushing Russia’s Oil-Dominated Economy Toward Ruin? https://t.co/RlVJGjtDLk — Newsweek Europe (@NewsweekEurope) February 21, 2016
MENA #oil exporting countries seen to incur ‘twin deficits’ https://t.co/7WIxRkRhUB pic.twitter.com/rzGOdwArJ8 — Al Arabiya English (@AlArabiya_Eng) February 22, 2016
This is why #SaudiArabia and #Russia are still flooding the #oil market https://t.co/KGC8mCCAoz pic.twitter.com/jAPil6P4Xk — CNNMoney (@CNNMoney) February 21, 2016
.@benbernanke explores why stocks and oil prices seem to be moving in tandem: https://t.co/FMKEo9a5ia pic.twitter.com/cbx7uzS7rQ — Brookings (@BrookingsInst) February 21, 2016
Abu Dhabi’s biggest bank says oil prices could ‘spike down towards $20’ this year https://t.co/8drhBs8tqB — Bloomberg Business (@business) February 21, 2016
In a country where oil is everything, young Saudis are afraid of what a future with cheap oil will mean https://t.co/F2hJpqeaud — The New York Times (@nytimes) February 21, 2016