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Why Oil Prices Won’t Hit $100 ...Middle East
A remarkable oil rally has seen oil prices climb almost 34 percent so far this year. Bullish sentiment is now driving speculation of $100 oil in 2021 as collective confidence of a rebound in global economic activity gains momentum. However, there are plenty of bearish factors that remain in oil markets that analysts would do well not to overlook.Chinese refiners have already started to tap into their reserves, threatening to hurt demand from the world’s largest oil importer. Geopolitically, the possibility of sanctions on Iran’s oil…
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