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Re: Midday Report: Oil sinks below $68 as OPEC keeps output target unchanged

By: Cactus Flower in ALEA | Recommend this post (0)
Fri, 28 Nov 14 6:37 PM | 100 view(s)
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Msg. 16342 of 54959
(This msg. is a reply to 16341 by Cactus Flower)

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oil price is usually the result of policy. opec is a cartel. and the policy is usually driven by saudi interests because they have the cheapest oil.


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The above is a reply to the following message:
Re: Midday Report: Oil sinks below $68 as OPEC keeps output target unchanged
By: Cactus Flower
in ALEA
Fri, 28 Nov 14 6:35 PM
Msg. 16341 of 54959

and here's an equivalent from russia today for doma.

http://rt.com/business/209579-opec-oil-supply-russia/

"Russian officials and experts warned that oil prices will remain below $80 per barrel for some time, after OPEC’s decision not to cut output. It will hurt the economies of Russia, Iran, and Venezuela – and deal a blow to shale oil production in the US.

OPEC announced on Thursday that it will not be changing production levels, leaving the daily output ceiling at 30 million barrels despite oversupply concerns and soft oil prices."


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