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OPEC facing dark clouds on supply horizon

Posted on 13 June 2014

OPEC faces a period of static oil prices as traders track supply-side uncertainties surrounding Iraq, Iran and Libya, as well as Ukraine, analysts said Thursday. The oil exporters’ cartel opted this week to maintain its crude output ceiling, expressing confidence in the market despite global tensions keeping prices high.
OPEC, which will convene again in late November to assess the state of the market, remains happy with Brent oil prices hovering close to $110, benefitting producers………………………………………..Full Article: Source


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