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How high can the OPEC oil supply cut push the oil price up?

Micheal Ben


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The cut in oil supply alongside a drop in U.S. rig activity has pushed the price of Brent crude oil from $59 to $65 over the past two months. The Saudi oil minister Khalid al-Falih recently stated that n end to OPEC-led supply cuts was unlikely before June, and in that case, the price could push towards $70 before the end of second quarter. As long as OPEC does not change its policy soon, the oil price could rise higher soon. 

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