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Is Crude Oil Facing a 1990's style slump?

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Crude oil faced significant falls as OPEC announced that the cartel is to abandon production target setting and will instead allow the oil market to effectively find its own equilibrium. Subsequently, crude oil prices fell over 6%, signalling that a return to the price slump of the late 90’s could be just around the corner. The 1990’s were a tumultuous period for oil as OPEC sought to control global oil supply with an iron fist. However, the latter part of the decade saw the cartel effectively

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