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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC, foreseeing no glut, keeps oil production level steady

Posted on 05 December 2013

Members of the Organization of the Petroleum Exporting Countries agreed on Wednesday to leave their combined daily quota for petroleum production at 30 million barrels, a decision that was expected to keep prices at their current steady and relatively high levels.
Even though some analysts foresee challenges shaping up for the oil producers next year, OPEC officials, meeting in Vienna, saw no reason to make changes now, given the many uncertainties about the outlook for supply and demand………………………………………..Full Article: Source


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