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Saudi Production falls slightly as Opec production falls 425,000 bpd

[Skip to the end] Production falling some but overall demand probably remains high, as reported inventories remain very low, as the GMIL (Great Master’s Inventory Liquidation) may still be a factor as more pension funds resist adding to passive commodity strategies. Several months ago a Saudi official said he though 85 was the ‘right’ price, but that [...]
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