Solving The Global Glut Could Mean Lower Oil Imports Into Texas

OPEC kicks off a two-day meeting in Abu Dhabi Monday, where member countries will discuss the production cuts implemented earlier this year.

By Alexandra HartAugust 7, 2017 1:28 pm,

OPEC kicks off a two-day meeting in Abu Dhabi Monday.

Members will check in to see if the production cuts they were supposed to implement earlier this year have helped to stabilize oil markets, after a global glut led to a drop in prices.

Matt Smith, the director of commodity research at ClipperData, says the cuts were meant to reduce inventory worldwide so that hopefully profits would go up for the countries who export oil.

What you’ll hear in this segment:

-How major oil-exporting countries are trying to counteract the global oil glut

-How OPEC production cuts will impact oil imports into the U.S., Texas

-Why exports of domestic oil may go up


Written by Lila Weatherly.