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Commodities Briefing - Categorized | Market Moves, Oil more

Geopolitical tension places oil markets on edge

Posted on 23 November 2012

After Libya last year, 2012 has again been notable for geopolitical disruptions to oil supply. These have affected Iran, Sudan, Syria, and Yemen and have led to an estimated 1.2 million barrels per day (mbpd) loss in output during the year.
Much of this has been offset by the steady return of Libyan supply which has added around 1 mbpd. Gains in non-OPEC crude and global NGLs have also been strong this year. But it is the action of Saudi Arabia which has been the main factor dampening price pressures stemming from the supply disruptions, and making sure markets are comfortably supplied, according to a report by Samba Financial Group………………………………………..Full Article: Source


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