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Analysts bearish on oil price despite Opec deal hopes

Posted on 22 November 2016

Growing hopes for an Opec deal on production has helped the oil price continue its rebound after hitting three-month lows last week. Iran, one of the most stubbornly resistant members of the 14-nation cartel, has been offered an exemption from export cuts so long as it agrees to “at least cap production” at its pre-international sanctions level, Reuters reports.
It adds: “This would leave the onus of an outright reduction on other Opec members, including its political rival and de-facto Opec leader Saudi Arabia.”…………………………………..Full Article: Source


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