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Petrol price hike feared as Opec forecasts rising oil demands

Posted on 13 March 2014

Oil cartel reveals plans to release emergency supplies as Washington announces ‘test’ sale of oil reserves. Fears grew of an increase in petrol prices after Opec raised its forecasts for world oil demand and the US revealed plans to release emergency supplies.
The Middle East-led oil cartel, which controls a third of world oil supply, said it now expected demand to increase during 2014 by 50,000 barrels a day to 1.14m as the world economy slowly picks up speed………………………………………..Full Article: Source


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