WTI bears squeeze below $40 after OPEC decision

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 7, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    WTI Oil prices plummeted below $40 at the end of the week following OPEC’s decision to keep production levels unchanged during their latest meeting in Vienna. Any optimism over a possible production cut diminished rapidly when the group failed to agree on a production ceiling, leaving current production at 31.5M barrels per day. With concerns elevated around the aggressive oversupply in the markets, investor sentiment will remain haunted towards WTI Oil in the short-term and selling in the

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