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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC stuck on a slippery slope

Posted on 11 December 2012

OPEC is caught between Dakota and Damascus. This week’s meeting of the Organisation of the Petroleum Exporting Countries ought to have a party atmosphere. Averaging almost $US112 a barrel to date, Brent crude oil looks set for its best year ever in 2012.
But any celebration of that would ring hollow. Oil prices are at risk of a major correction next year. Deutsche Bank says the range of analyst forecasts for oil prices is at “extreme levels”, with $US50 between the high and low ends. Beyond 2013, OPEC faces growing tensions that threaten its long-term survival………………………………………..Full Article: Source


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VRS - who has written 36729 posts on Opalesque Commodities Briefing.


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