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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC preaches stability while making unstable bets

Posted on 31 January 2014

OPEC Secretary-General Abdullah al-Badri said the 12-member cartel could make room for an increase in oil from Iran, Iraq and Libya. All three member states could be on the verge of a revival and the OPEC boss says accommodations could be made when they return. Emerging trends, however, suggest his anticipation may be premature.
OPEC set a production target for its members of 30 million barrels of oil per day, but doesn’t have individual quotas in place. Saudi Arabia and OPEC’s top producers have been making up for shortages from Iran, Iraq and Libya, but now the secretary-general said it may be time to make accommodations………………………………………..Full Article: Source


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