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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (131116)	8/17/2022 10:08:38 AM
From: Goose94	Read Replies (1) of 202925

Crude Oil: The head of the Organization of Petroleum Exporting Countries today said the cartel and its allies are “willing to do whatever it takes to do what the market really requires.” But Haitham Al Ghais refused to show his hand when asked by Bloomberg Television anchor Manus Cranny whether the cartel and its allies will boost capacity by another 100,000 barrels per day at its next meeting. He warned that the world is on “thin ice” when it comes to spare capacity, and said worries about eroding demand, particularly in China, that have pushed the price of West Texas Intermediate crude down about 30 per cent since the recent peak in March are “being blown out of proportion.” We’ll have highlights from that interview on the network today, and we’ll chase reaction from top commodity strategists. BNN.ca

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