While the outcome had been anticipated, investors were disappointed and dumped crude after conclusion of the OPEC meeting in Vienna. OPEC members confirmed to maintain production at 30M bpd, at least 1 million above OPEC’s own estimates of demand for its oil next year. The statement made no mention that members are required to comply with quotas.
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WTI Crude Broke Below US$70/bbl as OPEC Maintains Quota
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