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OMV predicts volatile oil
- Saudi Arabia: Saturday, August 18 - 2007 at 09:13
Austrian oil and gas group OMV has said it expects oil prices to remain 'high and volatile' for the remainder of the year, reported Reuters. The group also predicted that the US dollar will continue to weaken when compared to last year's figures. OMV has posted a 12% dip in its Q2 profits, partly due to the dollar's weakness and also refinery shutdowns.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, August 18 - 2007 at 09:13 UAE local time (GMT+4)
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