Oil prices approach fresh multi-year lows pre-OPEC by Milan Cutkovic

  • Comments from OPEC members suggests that there might be no cut in Oil production or only a small one
  • Some members like Iran, Russia and Venezuela who all suffer from declining Oil prices announced “monitoring” of market developments, but didn’t give any hint of an actual output cut
  • WTI has bounced off the earlier November low, but is very likely to stay under pressure ahead of the OPEC meeting
  • The meeting in Vienna will begin tomorrow

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