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Oil rally seen having more to go as millions of barrels are lost

stander
stander
in Oil, Gas and Energy News

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MELBOURNE, Australia (Bloomberg) -- Oil prices are yet to reflect all of the millions of barrels of crude lost to supply disruptions, according to Australia & New Zealand Banking Group Ltd.


Almost 2.5 MMbpd of supplies have been removed from the oil market this year because of outages from Canada to Nigeria, with most of them occurring over the past month, ANZ analyst Daniel Hynes wrote in a report dated May 19. The disruptions are not only set to remain in place, but intensify over the coming weeks, according to the bank.


http://www.worldoil.com/news/2016/5/19/oil-rally-seen-having-more-to-go-as-millions-of-barrels-are-lost


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