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Commodities Briefing - Categorized | Oil, Price Watch more

Opec warning of $150 oil price if member countries cut investment

Posted on 22 October 2013

Oil prices could top US$150 if Opec countries stop investing in new capacity, warned the head of the oil exporters’ group. Although the market was currently well supplied, said Abdalla El Badri, the secretary general of Opec, his comments underlined the group’s importance in global markets.
OPEC faces increased competition from rivals reaping the benefits of fracking technology, allowing long-time clients, such as the United States to decrease crude imports………………………………………..Full Article: Source


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