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Optimism pervades oil markets

RBC Capital Markets says West Texas Intermediate could hit $US50/barrel by the end of the year as optimism pervades the sector despite the rising pile of failed OPEC initiatives to support prices, stubbornly high US output and an increasingly gloomy economic outlook.

Optimism pervades oil markets

As the world digests OPEC's increasingly apparent impotence, it was the International Energy Agency that fuelled the most optimism, saying yesterday that 2016 would see the biggest drop in non-OPEC production...

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