As US oil production surges to record highs, surpassing Saudi Arabia, rig counts continues to rise (up 7 last week, up 5 of the last 6 weeks) suggesting more production is to come.
All of which has prompted OPEC and Russia, along with other countries participating in the oil production cuts aimed at balancing the market, are looking to create a “super group of oil producing countries,” according to a report from The National.
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