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More OPEC oil would boost rosy view of economy

02/14/2011
by Bob Tippee, Editor When Ali Al-Naimi, Saudi minister of petroleum and mineral resources, expressed confidence about global economic recovery last month, he was neither alone in his optimism nor without doubters. At the Annual Global Competitiveness Forum in Riyadh, Naimi on Jan. 24 described the world as "clearly" free of the financial and economic crisis. Predicting global economic growth of 4% this year and an increase in oil consumption of 1.5-1.8 million b/d, he hinted strongly that OPEC members might raise production if necessary to meet demand. US President Barack Obama also is optimistic. "Two years after the worst recession most of us have known, the stock market has c...
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