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...Some Opec countries, such as Iran and Venezuela, had indicated they would support a cut of 1m-1.5m b/d....
...It also cut its projection for 2009 to 87.2m b/d next year, about 450,000 b/d below its previous than forecast....
...Robert H Laughlin, of MF Global in London, said oil ministers had attempted to put a brave face on the outcome of the summit....
...“But it appears all in vain,” said Robert Laughlin at MF Global....
...Robert Laughlin of MF Global in London said: “[An] unchanged scenario with a May meeting is my favoured outcome.”...
...The cartel members also appear likely to keep formal production quotas steady at 28m b/d....
...“Rita has pushed Opec into the background, because there is great fear that we could be facing another severe supply disruption in the US,” said Rob Laughlin, an oil trader with Man Financial in London....
...agrees Prof Laughlin. ?The Koreans are reaping the benefits of Japanese investments.?...
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