Oil prices remain ‘far away’ from their equilibrium level.
BLOOMBERG.COM

All 24 producers that agreed last month to reduce output are making “tremendous efforts” to do as they pledged, Mohammad Barkindo, secretary-general of the Organization of Petroleum Exporting Countries, said in a Bloomberg television interview in Davos, Switzerland. Still, at $55 a barrel crude remains “far away from the equilibrium price.”

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