OGJ Newsletter

Market MovementnullOPEC-9 under pressure to performEven if both Iraq and Venezuela suffer serious disruptions to their respective oil production through the rest of this year, "crude prices would likely be in the $30-40(/bbl) range but would not 'go ballistic,'" veteran market analyst Stephen Smith, president and founder of Stephen Smith Energy Associates, Natchez, Miss., reported last week.That's because the other nine members of the Organization of Petroleum Exporting Countries, with help from the emergency oil storage systems in the US and other major oil-consuming nations, could effectively make up at least most of the production lost by the group's two problem members...

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