SINGAPORE (Reuters) - Oil prices will remain relatively low in the next year or two as supplies remain ample despite ongoing cuts by OPEC, although potential new sanctions by the United States against Iran pose upside risk to the market, the president of consultancy Facts Global Energy (FGE) said.
Starting this year, the Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed to cut output by 1.8 million barrels per day (bpd) in order to prop up prices.
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Headline crude prices for the week beginning 12 November 2018 – Brent: US$71/b; WTI: US$60/b
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