Wednesday 19 October 2016

CRUDE OIL PRICES LOOKING FOR DIRECTION AMIDST OPPOSING FORCES

CRUDE OIL PRICES LOOKING FOR DIRECTION AMIDST OPPOSING FORCES Crude oil prices have recovered slightly since September 27, after the Organization of the Petroleum Exporting Countries (OPEC) announced its first planned output cut to limit its production to a range of 32.5-33.0 million barrels per day (bpd) in order to rein in a global supply glut that forced crude to crash from over $100. Despite OPEC's expressed desire to cut output, latest report show the cartel's September production output at eight-year high of 33.24 million bpd.

Read more @ BusinessDay

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