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Oil Price is bound to Fall post OPEC meeting - Market Share more important

OPEC countries is going to meet to talk about Production limit or Oil output freeze but it is bound to fail. Libya, Iraq, Iran are some of the countries going to oppose it. Even Saudi will not support it as they want to maintain the market share. The purpose of OPEC countries to dent Shell gas producers hard for few years so that they close their shop before member countries makes any attempt to reduce the supply.

At the same time, Russia is very aggressive in the market place and any deduction in oil output is going to give Russia an opportunity to grab market share.

Post the OPEC meeting, Oil price may correct around 10 to 15% which inturn help India to reduce India its import bill.
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About Devendra Prasad

20 years plus industry veteran of domestic and international ICT domain with the expertise in Business, Technology, Strategy and Analysis. Specializes in forecasting impact analysis, trends and recommendations for Investments, Technology and Regulations.
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