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Commodities Briefing - Categorized | Market Moves, Oil more

Middle East oil markets contracting

Posted on 10 May 2013

The Iraqi and Libyan governments said they would help Egypt cope with its economic crisis by offering up crude oil exports. The Egyptian government of President Mohamed Morsi is trying to right the economic ship more than two years after the country’s revolution.
Conflict in Libya and Iraq, meanwhile, has raised questions about their ability to make post-war oil gains. With OPEC members forced to make adjustments to U.S. oil production gains, it may be that retraction isn’t just an economic issue anymore…………………………………Full Article: Source


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