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

Opec cuts boost prices

Posted on 07 January 2009

From FT: Oil prices rose above $50 a barrel on Tuesday amid a growing belief that Opec is succeeding in delivering cuts in production.

Oil traders have been largely sceptical about the cartel carrying out the three output cuts totalling 4.2m barrels a day it has announced since September. But preliminary evidence of lower supplies has now pushed prices higher….. Full Article: Source


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