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A comment on U.S. Oil Output Tops 12M Barrels a Day for First Time.

Re:U.S. Oil Output Tops 12M Barrels a Day for First Time by ComputerGuru on Tuesday July 02, 2019 @11:00AM (#20335761)
Just yesterday, OPEC agreed to continue to reduce production through 2020 to counter falling demand/prices.

Edit: Falling demand for OPEC oil, I mean.

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Re:U.S. Oil Output Tops 12M Barrels a Day for First Time by adventured on Tuesday July 02, 2019 @11:07AM (#20335840)
They're not countering falling demand, so much as trying to keep prices high in the face of a wall of supply from the US. They're constraining their own supply, while the US absorbs most of the demand growth. OPEC's forecast for 2019 remains for an expectation of about a million barrels per day of global growth, mostly coming from India and China.
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