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Time for oil to step back into the spotlight
Time for oil to step back into the spotlight as prices ease, and the OPEC+ group’s next meeting this coming weekend has again raised the now-familiar question: 'will they raise or ease their production cap?' No change looks like being the obvious answer, even as prices sag. OPEC can’t risk more members such as Iraq throwing a tantrum over restricted production, and even the Saudis will be hesitant because of increasing budgetary problems. Still, a little rise on Friday was probably a good thing for the group as it contemplates production levels over the rest of 2024. US West Texas Intermediate (WTI) crude oil ... (full story)