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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC price hawks to accept 30 mbpd oil deal

Posted on 14 December 2011

OPEC’s oil price hawks looked set on Tuesday to accept a new group output target that legitimizes a big increase in supply over the last six months from rival producers Saudi Arabia and its Gulf allies.
A deal expected at a Wednesday meeting should restore some credibility to the Organization of the Petroleum Exporting Countries after talks fell apart in June and left the cartel without its normal self-imposed output constraints………………………………………..Full Article: Source


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