Opec is set to continue pumping oil at its current high levels well into 2016 as Saudi Arabia and its GCC allies prioritize market share over price. The likely lifting of sanctions on Iran in early 2016 will also see fresh Opec volumes enter the market (see p7 ), although Opec’s historical high-watermark of 32.58mn b/d, set in August 2008, is unlikely to be troubled. The group’s Secretary-General ‘Abd Allah al-Badri attributed the decision not to set a production ceiling at...