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Commodities Briefing - Categorized | Oil, Price Watch more

Crude oil may surge to $50 if Opec clinches deal, or slip to $40 if it fails

Posted on 23 November 2016

Russia is strongly backing the cartel and said it is ready to support an Opec decision. It sees a big chance of the cartel agreeing on the terms of a freeze by November 30, 2016, at its meeting scheduled in Vienna.
Iran has given a clear indication that it will not be attending the meeting. Iraq and Iran both want exemptions from any Opec output cut, putting pressure on Saudi Arabia, the producer group’s biggest member, to bear the brunt of a possible reduction………………………………………Full Article: Source


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