Oil's Recovery Capped by Demand Downgrade
SylviaHunt30Crude oil recovered after a sharp selloff in Asian session yesterday amid the broad-based lift in sentiment on Fed's pledge to keep interest rates low at least until mid-2013. Prices, however, continued to struggle as the OPEC lowered demand growth forecasts, the EIA cut its oil price forecasts and Saudi Arabia maintained its oil output despite price declines.
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Oil's Recovery Capped by Demand Downgrade
