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Crude: OPEC unlikely to cut production quota

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The official OPEC meeting is underway in Vienna and crude oil prices are trading in tight ranges as the market awaits a decision. A division within the cartel is clearly visible with Saudi Arabia and Gulf countries wanting to maintain production quota unchanged, while the rest, most notably Venezuela, favouring a reduction in order to shore up prices to help support their struggling economies. Saudi would have considered a cut if certain non-OPEC members like Russia also agreed to reduce their

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