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Mittwoch, 7. Januar 2009

Oil prices rose above $50/b

Opec production cuts boost prices
Oil prices rose above $50 a barrel on Tuesday amid a growing belief that Opec is succeeding in delivering cuts in production.
Oil traders have been largely sceptical about the cartel carrying out the three output cuts totalling 4.2m barrels a day it has announced since September. But preliminary evidence of lower supplies has now pushed prices higher.
The clearest signal of Opec’s success in cutting production... more details in Financial Times here...

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