| When markets opened Monday morning, the price of oil dropped like a rock, as the market absorbed the news that the much anticipated oil production freeze meeting in Doha, Qatar didn't amount to much. But oil soon recovered and traded Tuesday above $42 US a barrel.
Why? Is it because of a strike by oil workers in Kuwait? Or pipeline sabotage in Nigeria? Partly. But energy analysts say it's also because the global oil market didn't really need the Doha agreement. It's already in the midst of re-balancing itself...............................................Full Article: Source
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