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Oil prices near Q2 2008′s record level

Finally, and far too late, policy makers are waking up to the damage that today’s high oil prices are doing to the global economy. Q1′s oil price averaged $119/bbl, just 7% below Q2 2008′s record $127/bbl ($2012). Thus Saudi Oil Minister, Ali Naimi, last week told the Financial Times: “High international oil prices are bad […]

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