Oil prices faced a brisk selloff Thursday after investors caught wind of news that the Organization of the Petroleum Exporting Countries (OPEC) had agreed to reduce output by an unspecified amount. The Saudi-led cartel is reportedly waiting for Russia to come on board before declaring specific output levels for the new year. Crude Drops Both […]
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Crude prices returned above $50 a barrel Thursday, shrugging off an earlier fall amid reports that Russia was willing to join OPEC in a new round of production cuts. Markets remain on edge ahead of the highly anticipated Group of 20 summit in Buenos Aires, Argentina where U.S. President Donald Trump will meet Chinese counterpart […]
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Crude oil bounced back Wednesday from one of the worst selloffs of the year, though the extent of the rally was limited by persistent oversupply fears after President Trump thanked Saudi Arabia for helping to lower prices in recent weeks. Crude’s Tepid Recovery The West Texas Intermediate (WTI) benchmark for U.S. crude futures climbed 89 […]
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