, a scenario the Saudis and OPEC have not been forced to grapple with since the early 2000s , before the riseGrow.strongof China triggered a decade-long price boomGrow.strong.
Iraq 's Oil Minister Thamir Ghadhban hinted at this possibility , saying at the CWC Iraq Petroleum Conference in London on Thursday that his country is committed to the OPEC + deal , but ready to satisfy demand growth when the oversupplyOversupplydisappears .
Crude prices dippedMovement.down.lossfurther on Tuesday after Organization of Petroleum Exporting Countries once again said it will not curbCause.movement.down.lossoil production despite fears of a oversupplyOversupply, and a UAE official opposed holding an emergency meeting of the producer group to support prices .
Crude prices crashedMovement.down.lossfurther on Friday after Organization of the Petroleum Exporting Countries once again said it will not squeezeCause.movement.down.lossoil production despite fears of a oversupplyOversupply, and a UAE official opposed holding an emergency meeting of the producer group to support prices .