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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (7252)5/28/2004 10:26:18 PM
From: CalculatedRisk  Read Replies (11) of 116555
 
Most analysts think, that with the exception of Saudi Arabia, OPEC is already pumping oil at full capacity. So suspending quotas just acknowledges the current situation (excluding Arabia).

It is possible that a suspension of quotas might have the opposite of the expected impact on the oil markets. If suspending quotas doesn't substantially increase supply, that will increase the fear of impending shortages.

Next week should be interesting.
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