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OPEC is struggling to prove it can still arrest oil price declines in the age of Trump, expert says

September 5, 2019

OPEC is under intensifying pressure to show it still has the power to reverse a slide in oil prices, according to RBC Capital Market’s Helima Croft.

The Middle East-dominated producer group has struggled to shore up crude futures this year, amid a deteriorating outlook for global growth and a protracted trade dispute between the U.S. and China.

It has once again raised questions about whether OPEC really wields that much influence over world crude markets, particularly at a time when oil traders are constantly on alert for the next tweet from President Donald Trump.

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