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Opec's grand planners thinking about US$70 oil

While assessing the fair price, Opec's rediscovered optimism encourages members to pursue ever-higher prices yet again


AS recently as Opec's last meeting, back in May, several oil ministers were talking quite casually about US$50 a barrel as a good price for crude. Don't expect that to be repeated when they convene again at the end of this month.

In fact, expect quite the opposite. As oil...

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