OPEC’s Lackluster Quota Hike Won’t Solve Oil Market Tightness

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While oil prices have fallen below $90, OPEC’s meager quote hike may not do much to lower prices further.  The lackluster response from OPEC hints that the bloc may not be able to boost production above current levels. Yesterday, OPEC and its partners led by Russia agreed to increase their combined oil production by 100,000 bpd in September. Reports note that the decision follows calls from t...

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