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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (98875)	12/1/2020 12:43:26 PM
From: Goose94	Read Replies (1) of 202704

Crude Oil: WTI Drop On OPEC+ Uncertainty Oil prices dipped on Tuesday as the OPEC+ meeting ran into some unexpected turbulence, with the three most influential members failing to agree on how best to proceed with production in 2021. OPEC+ postponed a decision on its next steps until Thursday after talks proved trickier than expected. Analysts expected the group to extend its current agreement by three months or so, rather than allowing the cuts to taper beginning in January. However, Reuters reports that some members are itching to increase production. Russia has suggested easing by 0.5 mb/d each month beginning in January. At the same time, the UAE is uncomfortable with low compliance levels of other members.

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