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Oil could drop to USD 35/barrel – OPEC source on Reuters

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - OPEC source, while speaking to Reuters, said the oil prices could drop to USD 35/barrel.

    The statement comes ahead of the OPEC meeting on Friday, where the group is expected to keep the production levels unchanged.

    Of late, there have been talks of Saudi Arabia; the largest producer of oil; showing readiness to work with non-OPEC members in order to support prices. However, the markets do no expect the Kingdom to announce any such measures on Friday.
    For more information, read our latest forex news.
     

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