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A Floor to Oil Prices

Oil Prices have been falling because of the perception of slowing economic growth.

Unfortunately, OPEC takes this into account in determining supply.

Concerns about a possible U.S. recession have made the task of forecasting OPEC oil demand this year more complicated, the group said today. As a result, OPEC is less likely to decide next month to boost supplies, Reuters reported.

As long as OPEC controls supply, there is a floor to oil prices. Is there a ceiling?

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