Oil Slumps as OPEC Raises Production Target

Oil prices tumbled as the OPEC decided to raise the output ceiling although global economic headwind would likely reduce demand rather than increase it. Meanwhile, debt-ridden countries in the Eurozone continued to struggle. Italian bond auctions held yesterday was viewed negatively although the government managed to sell 3B euro of the 5-year bonds.

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Oil Slumps as OPEC Raises Production Target