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Oil below $52
- Wednesday, January 17 - 2007 at 07:25
Oil slipped below $52 a barrel Tuesday after Saudi Arabia's oil minister said there was no need for an emergency meeting to shore up prices, news agencies reported. Ali al-Naimi says a drop in inventories in Q4 'puts the market closer to balance'. Opec members have in the past said they would defend a $50-$55 price range.
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James McInerney, News EditorWednesday, January 17 - 2007 at 07:25 UAE local time (GMT+4)
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This article was updated on Tue Feb 13 2007.
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