Recent statistics issued by the Organisation of the Petroleum Exporting Countries highlighted a decrease in its production by 6.3 percent, or some two million bod in 2019, compared to 2018. This decrease is in line with its recent decisions, in coordination with major independent producers, to maintain the balance in the global oil market. In December 2019, Opec issued decisions to reduce production by 500,000 bpd, which increased the ceiling ...