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Commodities Briefing - Categorized | Market Moves, Oil, Price Watch more

Opec might act soon to reduce oil prices

Posted on 06 May 2011

Opec is considering raising oil output limits when it meets next month to convince the market that it wants to bring down crude-oil prices and reverse the drag of fuel inflation on economic growth.
Despite the loss since late February of Libyan supply, the Organisation of the Petroleum Exporting Countries does not foresee a shortage of crude on world markets, a view supported by comforting data on the state of the global inventory……………………………………….Full Article: Source


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