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Commodities Briefing - Categorized | Market Moves, Oil more

Saudis cut oil output to lowest in a year

Posted on 12 December 2012

Saudi Arabia has cut oil output to its lowest level for a year as a combination of surging US crude production and weakening economic growth sapped demand.
The sharp fall in Saudi production, details of which were published ahead of a meeting in Vienna of the Opec oil cartel, contrasts with surging US energy output as hydraulic fracturing or “fracking” have unlocked vast quantities of shale oil and gas………………………………………..Full Article: Source


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