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Why Oil Prices Will Rise More and Sooner Than Most Believe

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By: David Yager
Posted by: Energy Now Media


As the September 26 to 28 “informal” meeting of OPEC producers (and apparently Russia) in Algeria draws near, media speculation could easily cause mental anguish. On oil news websites the same home page simultaneously carries headlines claiming OPEC will both fail and succeed in capping output. One can be forgiven if you read all this stuff and cannot comprehend what it means. Called by OPEC August 8, the stated purpose of the gathering was, “OPEC continues to monitor developments closely, and is in constant deliberations with all member states on ways and means to help restore stability to the oil market”. Obviously that is the view of the organization, not the member countries. Iran and Saudi Arabia remain at loggerheads over which will exert the most influence in the Persian Gulf. Iraq, Nigeria, Libya and Venezuela are all experiencing various forms of internal meltdown which thankfully (massive human suffering aside) is keeping a lot of …