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Commodities Briefing - Categorized | Oil, Price Watch, Regulatory more

Oil set for rebound as record drop spurs OPEC cuts

Posted on 30 December 2008

From Bloomberg: Oil futures may rebound from their worst year to average $60 a barrel next year as OPEC makes record production cuts to counter the deepest economic slump since World War II.

The forecast, the median of 33 analysts compiled by Bloomberg, represents a 50 percent gain from yesterday’s $40.02 closing price….. Full Article: Source


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