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What's different a year after the wildfires? | SaltWire #novascotia #firefighting #wildfires #newsLONDON - OPEC will stop publishing a calculation of the world's demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group.
Demand for crude from the wider group is now more relevant, one of the sources said, because the DoC nowadays is the framework for cooperation on the oil market. Both sources declined to be identified by name.The market share of OPEC crude has fallen to a multi-decade low of 27% after Angola's exit at the end of last year. OPEC+ crude has a larger share of around 41% according to Reuters calculations, and more if all types of oil are included.
OPEC+, with no permanent headquarters, is a less formal alliance, making it easier for countries that do not wish to join OPEC to still work with it. OPEC, for the first time, published a figure for demand for DoC crude in its April report, which was given alongside the traditional call on OPEC.
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