Crude Oil Surges Above $50 a Barrel for First Time Since July - Bloomberg Business: "West Texas Intermediate crude advanced 3.4 percent. Demand will climb more this year than previously projected amid cheaper fuel prices, OPEC Secretary-General Abdalla Salem El-Badri said yesterday in a statement to the International Monetary Fund. A "new capital discipline" in the industry will allow demand to catch up with supplies, boosting prices, according to Gary Ross, founder and chairman of PIRA Energy Group. Gains accelerated on reports that Russian cruise missiles meant for Syria landed in Iran.
“The most significant development now is the OPEC secretary general talking up the demand number,” Bob Yawger, director of the futures division at Mizuho Securities USA in New York, said by phone. “He’s also predicting a significant drop in production growth, which is adding support.”"
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