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Commodities Briefing - Categorized | Oil, Price Watch more

OPEC signals oil near $100 avoids any need to alter quota

Posted on 31 May 2013

OPEC can keep its oil output ceiling as it is so long as Brent crude remains at about $100 a barrel, according to officials from some of the group’s members. “There is balance between demand and supply, and this is reflected on prices, they are stable,” Abdul Kareem al-Luaibi, oil minister for Iraq, the group’s second-largest producer, told reporters in Vienna.
“We don’t want any shock to the market, the stability of prices is important for the global economy.”……………………………………….Full Article: Source

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