Oil company prices are unlikely to be affected by Opec's decision to cut crude production by 1 milli...
Oil company prices are unlikely to be affected by Opec's decision to cut crude production by 1 million barrels a day. Analysts expect the price of a barrel of oil to rise from $23 to $25 but this will make little difference to overall revenues for this year. Any increase in profits will be outweighed or counter-balanced by the spring season and the fate of the US economy. Demand traditionally tails off in the second quarter as the weather improves, and a downturn in the US could spark off a global downturn.
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