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Commodities Briefing - Categorized | Market Pulse, Oil more

Opec set to roll over oil production target

Posted on 31 May 2013

The Opec oil cartel is set to keep its production target unchanged, betting that a seasonal rise in demand as Americans and Europeans take to their cars for summer will keep oil prices above $100 a barrel.
Opec has a long history of surprising the market with last minute changes in opinion, but delegates said on Thursday ministers had all but decided to keep its official production at 30m barrels a day – a level that has not changed in more than a year and a half………………………………………..Full Article: Source

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