Conflicting market signals muddy the outlook for oil supply/demand and prices. Contributing to the perception of a crude supply/demand balance is OPEC's continuing solidarity on quota adherence. OPEC production fell 804,000 b/d in April to about 22.346 million b/d, about in line with cuts recommended at the ministerial meeting in March, says Middle East Economic Survey. MEES attributes the drop almost exclusively to a decline in Saudi output, down to 7.5 million b/d from 8.4 million b/d in

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