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Commodities Briefing - Categorized | Financial, Oil more

Opec reaps record revenue in 2012

Posted on 02 January 2013

The year 2012 was a bumper year for the Organization of Petroleum Exporting Countries (Opec). The organization, led by Saudi Arabia, will pocket a record of more than $1 trillion in net oil revenues in 2012 as the annual average price for Brent, the benchmark, heads to an all-time high in spite of weak economic growth.
On Monday, Brent crude’s premium to Middle East benchmark Dubai grade rose to the highest level in more than two weeks. Royal Dutch Shell Plc (RDSA) bought a cargo of Oman crude through the Platts pricing window………………………………………..Full Article: Source


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