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Market Movement Click here to enlarge imageOPEC's actions consistent with policyOPEC has said repeatedly that its official policy is to manage its contribution to global oil supply in such a way as to maintain oil prices within its target price band of $22-28/bbl for the OPEC marker basket of crudes. And it's done a pretty effective job of accomplishing just that. Oil prices have swung within this band-albeit with some volatility-consistently since early last November, save for a brief dip for a few weeks below the band's floor early this year (see chart).Despite all the hand-wringing over the effects on the global economy and (perhaps because of) the speculation over the rol...

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