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The Oil Glut is Gone, But Investors Still Agonize Over Production

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Summary: Speculation of a production increase from OPEC is not as big of a deal as some market pundits are making it out to be, in MRP's view. With global oil demand rising, there is relatively little spare capacity to make up for the continuing collapse of Venezuelan output, the upcoming drop in Iranian exports due to new US sanctions, and the possible shuttering of wells by US shale producers due to insufficient pipelines.
Oil markets have suffered from jitters lately as this week’s OPEC-ho...

 

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