Can OPEC Win Back Its Lost Market Share?

While the unrest in the Middle East lends an element of risk to the oil markets, helping to put a floor under prices, OPEC is maneuvering to keep the status quo. This week, OPEC’s JMMC did not recommend any changes to the group’s oil output targets during the quarter - as most had predicted. Second, Saudi Arabia announced that it was canceling its plans to boost capacity to 13 million bpd.  This could be interpreted in any number of ways, whether that’s because oil demand isn’t what it needs to be to utilize the additional…