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Oil prices: The never-ending problem with cartels

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Outlook: We don’t know how to evaluate turmoil in the oil patch. As noted above, US pro-duction will likely fall by 710,000 million bpd by April next year from the peak of 9.60 million bpd in April 2015, but Iran says it intends to make up more than that. Then there’s Indonesia, which rejoined OPEC last week. Meanwhile, despite the acrimonious OPEC meeting, members pumped more oil in November (230,000 bpd to 31.70 million bpd). Reuters reports “With extra barrels coming from OPEC, the report

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