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Commodities Briefing - Categorized | Market Moves, Oil more

Popular unrest could crush OPEC spare capacity

Posted on 03 March 2011

From Reuters: Unrest sweeping the Middle East could squeeze OPEC’s precious spare oil capacity for the long term as well as the near term as fearful governments delay reforms needed to tame galloping domestic fuel use.
The disruption of much of Libya’s 1.6 million barrels per day (bpd) of production already threatens to make a serious dent in the less than 5 million bpd of OPEC oil that can be swiftly added to markets in times of shortage…………………………………….Full Article: Source


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