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Commodities Briefing - Categorized | Market Moves, Oil more

OPEC seen sticking by oil output

Posted on 10 June 2014

OPEC is set to stick by its oil output ceiling when it meets this week, as supply tensions linked to global crises help to keep crude prices high, benefitting producers. The Organization for Petroleum Exporting Countries, whose dozen member nations together supply about one third of the world’s crude, is widely predicted by experts to keep its daily output ceiling at 30 million barrels of oil.
While OPEC is satisfied with current price levels at around $100 a barrel, the cartel is in fact pumping below its collective target owing to abundant supplies in top crude consumer the US………………………………………..Full Article: Source


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