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Bank of Singapore: OPEC cut will have limited upside impact on oil

OPEC’s first decision to cut production in eight years sent oil higher, but Bank of Singapore has doubts over how high prices will go due to the size and implementation of the proposed cut and the cartel’s waning influence. At 32.5-33.0 million barrels per day, the bank views the cut as a small one compared to historical output figures. The…

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