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The OPEC oil producers' group and its non-OPEC allies are poised to deepen its production cuts by 1.5 million barrels per day as the coronavirus (Covid-19) outbreak eats into global oil demand.
Saudi Aramco’s decision to issue a $10 billion bond underscores how serious the company is about transforming itself into an international powerhouse across the oil and gas value chain, from upstream to petrochemicals.
Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.
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