Crude oil prices retreated from the rally yesterday ahead of the OPEC meeting in Vienna. Ali Naimi, Saudi oil minister said that the current supply and demand balance is in the “best environment” and oil demand growth is “great”. Upbeat comments from Saudi Arabia’s oil minister suggested that the group will likely leave the production quota unchanged at 30M bpd this month.
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Crude Oil Prices Retreat as OPEC to Maintain Production Quota Constant
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