Is OPEC looking for $60 a barrel oil?

Crude oil inventories probably increased in the first quarter despite OPEC's output cuts, the International Energy Agency said in its monthly report released on Thursday.

Brent crude futures for June delivery is currently trading at $55.60 a barrel. 

It seems that the current prices are not satisfying that possibly targeting $60 a barrel. 

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Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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