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Commodities Briefing - Categorized | Market Pulse, Oil more

OPEC Output to rise, indicating price gain, Morgan Stanley says

Posted on 18 March 2013

OPEC’s output may rise in the second quarter to meet increasing demand from refiners, indicating prices will increase as spare production capacity is reduced, Morgan Stanley said.
Output by the Organization of Petroleum Exporting Countries could rise by 850,000 barrels a day from April to June, the bank said in the report published today. The group will pump more as refineries come out of maintenance and utilities in Saudi Arabia and Japan use more crude and fuel oil for electricity generation, said Morgan Stanley………………………………………..Full Article: Source


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