Tuesday, April 21, 2015
Oil
Oil: Sudden downward spike from US$56.41 to $55.84 (-1%) on expectations of another rise in U.S. stockpiles and as Saudi Arabia keeps output near record highs, but prices remained near a 2015 peak reached last week. Saudi Oil Minister Ali al-Naimi told Reuters in Seoul that the No. 1 crude exporter expected to produce at near record highs of around 10m bpd in Apr. Analysts warn that OPEC's ability to cope with an unexpected surge in demand is diminishing fast.
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