Global Oil Market Overview

June 2008
Turkey Oil & Gas Report;Q3 2008, p11
Industry Profile
The article presents a global market performance of the world's oil market. It reveals that members of the Organisation of the Petroleum Exporting Countries (OPEC) experienced an unexpected windfall of the oil market wherein the basket price of their crudes tops US$100 billion barrels (bbl) as global stock market uncertainty pivoted the rise of oil prices. OPEC ministers chose not to alter the group's output strategy, but volumes continued to creep higher.


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