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International regulators have withdrawn proposals for tougher oversight of the physical oil...

International regulators have withdrawn proposals for tougher oversight of the physical oil market after opposition from the IEA, OPEC and major oil companies, the FT reports. Regulators had wanted to use only completed deals to set benchmarks and enforce mandatory reporting of transaction data, but will settle for the current system of bids and offers despite acknowledging the potential for manipulation.
Comments (2)
  • bot some oxy today at 86.09
    25 Sep 2012, 12:44 PM Reply Like
  • Clarification being: speculative bidding will continue to drive prices instead of real supply-demand between producers and end-users.

     

    What a shame.
    25 Sep 2012, 02:16 PM Reply Like
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