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Sunday, November 29 - 2009

Oil to $52, then recovers

  • Saturday, January 13 - 2007 at 09:33

Oil recovered from a 19-month low under $52 a barrel on Friday, with traders anticipating action from Opec to support prices that have so far fallen 14% this year, Reuters reported. Opec president Mohammad Bin Dha'en Al Hamili has urged members to comply with agreed production cuts. The group had decided to cut output by 1.7m bpd by 1 February.

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