Alas, it's only temporary
When supplies of anything get too large for their markets, prices come downor at least they should. For all the power of the OPEC cartel, oil is proving to be no exception. A worldwide glut has developed as new supplies from the North Sea, Alaska and Mexico supplement oil from the Middle East and South America at a time when the shaky world economic recovery cannot absorb all of it. One result: price shaving by most of the big producers. Kuwait, Iran and Saudi Arabia are all offering slight discounts...
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