Low oil prices haven't tempered output from rivals, says Opec
Long-term strategy report projects glut in crude oil to continue for another two years
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THE North American oil boom is proving resilient despite low oil prices, the Organisation of Petroleum Exporting Countries (Opec) said in its biggest and most detailed report this year, suggesting the global oil glut could persist for another two years.
A draft report of Opec's long-term strategy, ahead of its meeting in Vienna next week, forecast supply from rival non-Opec producers would grow at least until 2017.
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