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Commodities Briefing - Categorized | Oil, Price Watch more

Oil price: Why further falls may be on the way

Posted on 29 May 2015

Those hoping for a bit of oil price stability after the past few months’ volatility may be disappointed. Next week’s Organisation of Petroleum Exporting Countries (OPEC) meeting is widely expected to be another case of the cartel sitting on its hands, and maintaining levels of oil production despite historically low oil prices.
This shouldn’t be any surprise to markets – yet there are other warning signs ahead. After the last meeting in January, crude prices (WTI crude) fell to a six-year low of less than $45 a barrel, then recovered to around $65 a barrel, as the growth in U.S. supply – the main reason why OPEC has been so stubborn about cutting output — slowed in response to lower prices…………………………………Full Article: Source


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