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Market MovementOPEC may have cut production one time too manyAre oil markets headed for another price spike in the second half, thanks to the latest OPEC cut?Raymond James & Associates analyst John Gerdes said a dramatic build in second quarter petroleum inventories initially appears to supports the view that the oil market is oversupplied."However, looking behind the numbers, it becomes apparent that we may again experience an undersupplied market condition in the upcoming heating season," he said. Click here to enlarge imageGiven a historical correlation between oil inventories and oil prices, RJA modeled projected changes in oil inventories as a guide to the future direction of crude ...

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