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Some key markets are suffering from oversupply due to high competition
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According to CW Research's Cement and Clinker Price Assessments for Med Basin and Persian Gulf, FOB prices for cement and clinker slipped in both regions in November.
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Global oil well cement consumption is poised to increase through 2024, with key markets such as the US and Saudi Arabia forecast to experience robust average growth rates above 50 percent, according to CW Research's World Oil Well Cement Market Forecast 2024.