Oil unchanged |
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After closing in negative territory on Friday, commodities in general are rallying this morning. Oil : OPEC's monthly report on supply and demand focused on the flagging demand in the US and Europe. Yet the estimate of demand growth was lowered only marginally for 2008, by 30,000 to 1 million b/d. The estimate for 2009 was unchanged. At the same time the organisation stressed that it expects an improvement in non-OPEC production. According to the report, there are prospects of stockpiling,
Filed under: Futures
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