From Theglobeandmail.com: With political tensions in Egypt roiling global crude markets, OPEC producers are unwilling to boost supplies until bulging global inventories are reduced, a tough stance that will provide little relief from prices that have hit two-year highs.
The Organization of Petroleum Exporting Countries has already increased production marginally – mainly from Iraq – but a former official of Saudi Arabia's state-owned oil company Saudi Aramco, says the cartel is reluctant to responding too aggressively to higher prices fearing more production would swell already bulging inventories..............................................Full Article: Source
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