LONDON (Bloomberg) -- What happens if the Organization of Petroleum Exporting Countries can’t pump enough oil?
The producer group meets in Vienna on Friday with Saudi Arabia leading a push to open the taps a little following a 60% surge in futures over the past year. If the world’s biggest exporter gets its way, then the resulting output increase will act as a stark reminder that OPEC’s spare capacity may soon be the smallest in three years. It could also be bullish for the price of oil along the forward curve.
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Headline crude prices for the week beginning 10 February 2020 – Brent: US$53/b; WTI: US$49/b
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