Oil Prices Slumped after OPEC Deal
Lorenzo1261Crude oil prices slumped over -4% on profit-taking as the decision after the OPEC/non-OPEC meeting was in line with market expectations. Recall that, after OPEC/non-OPEC announced to take coordinated action to reduce output late last year (effective January 2017), crude oil benchmarks recovered from low-40 levels in November 2016 to above US$55/bbl in January this year.
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Oil Prices Slumped after OPEC Deal
