The discovery conundrum

DISCOVERY is not a common word in oil these days but Slugcatcher reckons that could change with recent discoveries adding another layer of complexity to the oil price equation, as rising output does not sit comfortably with attempts to lift it by cutting production.

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Two big discoveries in the past two weeks off the coast of Mexico are the latest additions to the world's oil inventory that was supposed to be shrinking as part of a tricky glut management program