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OPEC's cheer over 2018 oil rally tinged by shale worries

Benchmark Brent crude rose further above $68 a barrel on Tuesday

Reuters  |  Dubai/London 

Oil's price rally this year to its highest since May 2015 may seem a source of glee for OPEC, but some in the producer group fear the gains could prompt shale companies to crank open their spigots and flood the market. Benchmark Brent crude rose further above $68 a barrel on Tuesday, supported by oil output cuts led by the Organization of the Petroleum Exporting Countries and allies including Russia that are due to run until the end of 2018. The surge comes as a welcome boost for the revenues of oil-producing nations, many still reeling from a price collapse that started in ...

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First Published: Tue, January 09 2018. 22:38 IST
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