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Commodities Briefing - Categorized | Market Moves, Oil, People more

Surplus oil harmful for global market: Iran’s OPEC governor

Posted on 28 November 2011

The representative of Iran to the Organization of Petroleum Exporting Countries (OPEC) has said that any surplus of oil will be harmful for the global market. Mohammad-Ali Khatibi added that a balanced market will be beneficial for all the member states. “So, we should not allow any oil surplus to exist in the market.”
On November 21, Khatibi said in Riyadh he foresees a “positive” OPEC meeting next month. OPEC should be wary of a possible drop in demand next year, he added, Bloomberg reported……………………………………….Full Article: Source


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