OGJ Newsletter

Click here to enlarge imageThe hottest industry talk continues to circulate around the steady rise in oil prices and speculation over what OPEC members will do about their production curtailments after meeting Mar. 27 in Vienna. Oil prices have topped the crucial psychological watershed of $30/bbl-a level maintained for 3 consecutive days last week, with NYMEX closing at $30.05/bbl Feb. 16, down 1¢ on the day and 20¢ from Feb. 14. At OGJ presstime last week, Brent crude for April delivery had settled up 24¢ at $27.37/bbl, a threefold increase vs. a year ago. Driving the surge, say analysts, has been concern over supplies and the accelerated stock drawdowns.Due largely to ...

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