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The ups and downs in oil confirmed Saudi Arabia’s fears about the strength of the market. And it is likely that the cautious line will be confirmed this time too, both by Riyadh – which is making extra production cuts – and by Opec Plus. The coalition summit, scheduled for April 1, will hardly end with a major retouch of the extraction quotas.
The prices per barrel, still very volatile, have weakened by about 10% in the space of three weeks …