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September 12, 2016

OPEC Monthly Oil Market Report

The OPEC Reference Basket rose 42¢ to $43.10/b in August. ICE Brent wound up 62¢ at $47.16/b, while NYMEX WTI was unaltered at $44.80/b. The Brent/WTI spread enlarged further to $2.36/b in August. Unrefined cost ascended on indications of an enhancing supply/request adjust and US dollar shortcoming, despite the fact that an unexpected form in US rough stocks, expanding supplies and stresses over Chinese request constrained costs toward the finish of the month.

World Economy

World financial development was amended down to 2.9% for 2016 and stays at 3.1% for 2017. Frail 1H16 development created a descending amendment to the US development estimate for 2016 to 1.5%, while the [...]

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