Crude Slumped as OPEC Unlikely Agrees to Cut Output

The selloff of crude oil prices resumed as it's getting rather clear that OPEC members would not announce reduction in production quota in the November 27 meeting. While the Joint Organisations Data Initiative (JODI) suggested that Saudi Arabia might have trimmed output, the amount is not big enough to defend oil prices.

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Crude Slumped as OPEC Unlikely Agrees to Cut Output