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Monday, October 16, 2006

OPEC Update

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OPEC reportedly cuts forecast Q4 demand for its oil to 28.69 mln bpd vs previous forecast of 28.86 mln bpd
- OPEC 10 pumped 27.6 mln bpd in Sep, down from 27.7 mln bpd in Aug
- OPEC concerned downward price momentum may persist due to economy uncertainty, slowing demand growth.

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