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Opec may well cut output targets to maintain the $100-plus oil price

Posted on 16 July 2013

Last week the AA motoring organisation warned that the weak outlook for sterling could result in soaring petrol prices. However, it’s not time to panic just yet.
Oil is priced in dollars and prices globally have been on the rise. US crude prices, as measured by West Texas Intermediate (WTI) hit a 15-month high last week as US oil inventories fell and after Ben Bernanke, chairman of the Federal Reserve, indicated to the markets that the tapering of stimulus measures would take longer than expected………………………………………..Full Article: Source


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