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Market Movement Click here to enlarge imageOil market slowly rebalancingWhile the announcement of an 800,000 b/d OPEC output hike effective Oct. 1 may have done a little to improve oil consumer anxiety and take a bit of the wind out of the oil price sails, the real production increase is pretty negligible. Because a number of key OPEC producers are already exceeding their quotas, the increase is likely to be more along the lines of 300,000 b/d, estimates the London-based Cen- tre for Global Energy Studies (see chart).For now, OPEC's decision to meet again in November and review the market effect of its increased output is a wise one, declares CGES: "By then, we should know more about...

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