JPMorgan: As Market Yawns At OPEC Production Cuts, Watch Price of Oil Drop Further

As the price of oil dropped significantly Thursday, moving from a high near $52 into the $48 region, JPMorgan says the downdraft is likely to be reflective of OPEC production cuts priced into the market. While WTI is higher in mid-afternoon trading, the price might ultimately find a gravitational pull lower, the report noted. LAGRANDEENTREPRISE /… Please follow and like us:

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Saudi Arabia wants oil prices to rise to $60 in 2017

Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies – the United Arab Emirates, Kuwait and Qatar – believe would encourage investment in new fields but not lead to… Please follow and like us:

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