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Commodities Briefing - Categorized | Oil, Resources more

Oil supply: The cartel’s challenge

Posted on 02 December 2013

At a private dinner early in November a group of executives from one of the world’s largest commodity traders was asked to predict the price of oil in a year’s time. Without exception the forecasts, scribbled on place cards without consultation, were for Brent crude to fall well below the $100 a barrel level it has traded above for most of the past three years.
Those predictions reflect a growing consensus in the oil market. From US shale to an easing of sanctions on Iran, the coming years are expected to provide a huge boost to global output, inverting the structure of the oil market in which supplies have long been rationed by a handful of producers………………………………..Full Article: Source


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VRS - who has written 36685 posts on Opalesque Commodities Briefing.


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