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Oil producers will face bearish 2009

Posted on 28 November 2008

From Thenational.ae: Oil producers will face a tough market next year even if Opec trims production by as much as a further one million barrels per day on top of present output cuts, a top commodities official at Morgan Stanley said today.

A slowing economy and significant additions to global refining capacity threaten to weaken the fundamentals of the market for petrol and other oil products, said Hussein Allidina, the head of commodities research for the New York bank, which has a strong focus on commodities….. Full Article: Source


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