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Think $80 oil is painful? Wait until spring

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15 October 2007 @ 01:54 pm ET
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However any correction is likely to be limited by the rising cost of producing oil in non-OPEC countries and continued strong demand for crude oil.

OPEC itself raised its forecast for demand for its oil this winter on Monday, citing the resilience of the world economy despite the subprime mortgage crisis in the United States.

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