OPEC Losing Grip on Oil Market as U.S. Production Booms and Demand Slows
- OPEC and Saudi Arabia losing control over world oil market as US oil supply booms
- Oil prices in longest decline in 5 years despite OPEC+ supply cuts
- Saudi Arabia threatened more cuts but oil traders dismiss threats
- Falling oil demand anticipated as economies slow down
- Saudi Arabia may wage "oil market share war" against US in 2024