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Unless Libya and Nigeria join the other OPEC and non-OPEC countries in cutting their oil output, and OPEC puts strict measures to ensure the compliance of the participating countries with the agreed oil output cuts, the support of OPEC output cuts deal will continue to deteriorate.
But that is not the only challenge facing OPEC right now, another big concern that must be addressed now is the strategy beyond March 2018. Will they continue their output cuts and allow US shale producers to continue taking benefits and gaining more market share or will they let the market balance itself?
