OPEC sees the oil market improving because of higher demand for the group’s crude and a drop in supply growth from non-members, its secretary-general said, the latest sign that OPEC believes its strategy of defending market share is working. Oil prices have almost halved in the last year on oversupply in a drop that deepened after the Organization of the Petroleum Exporting Countries in 2014 changed strategy to protect market share against higher-cost producers, rather than cut output to prop up prices as it had done in the past. “There is an improvement in the market,” Abdullah al-Badri told reporters on the sidelines of an industry conference in London on Tuesday. “This situation may not stay long, more than two years,” he said in response to […]