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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (109142)	6/22/2021 2:07:17 PM
From: Goose94	Read Replies (1) of 203418

Crude Oil: Prices Fall As OPEC+ Looks To Boost Production Tuesday, prices were slightly down on news that OPEC+ might start increasing production. “Reports that OPEC+ is already discussing, ahead of its scheduled meeting, to increase its output from August indicates that the demand-supply gap is already becoming an issue and that the alliance is working on a plan to tap that deficit,” Louise Dickson of Rystad Energy said in a statement. “The OPEC+ chatter to raise supply is the most bearish risk for the recent oil price rally, which has been propelled on strong summer demand and an overall conservative supply environment.” OPEC+ is discussing a further easing of oil output cuts from August as oil prices rise on demand recovery, but no decision had been taken yet on the exact volume to bring back to the market, sourced told Reuters. “It is highly possible to increase gradually from August,” said one of the sources.

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