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

Oil at $50 looms as OPEC plans cut, keeps to quota

Posted on 09 March 2009

From Bloomberg: OPEC’s record production cuts are draining the glut in world oil markets, leading traders to bet that $50 crude is two months away.

Ever since oil began its 69 percent plunge from a record $147.27 a barrel in July, traders have been looking for a bottom….. Full Article: Source


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