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Emerging Market Meltdown Could Undermine Oil Rally

Posted by BFP Staff on May 31, 2018 at 11:58 AM

Investors are becoming a bit more nervous about parking money in emerging markets.

By Nick Cunningham of Oilprice.com
Saudi Arabia and Russia just destroyed the oil price rally, potentially putting an end to all the speculation about what the group might do next. But higher production doesn’t necessarily mean higher oil prices are entirely out of the question, and in fact, the oil market is still faced with a ton of uncertainty.
Higher oil production from the OPEC/non-OPEC group would seem to close off the higher-price scenario. But a “complete collapse” of Venezuela’s oil production could still push oil prices up to $100 per barrel, Bob Parker, investment committee member at Quilvest Wealth Management, told CNBC.

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