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Oil Markets In Limbo Ahead Of OPEC Meeting

OilPrice.com Saturday, 16 March 2019
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are in a position to settle the week higher after hitting new highs for the year earlier in the week. However, Friday’s price action suggests investors are still waiting for a bullish catalyst to trigger another surge to the upside and finally break out of its trading range in a decisive manner. Supply Issues Supportive The OPEC-led production cuts which began on January 1 and the U.S. sanctions against Iran and Venezuela have been carrying crude oil prices higher…
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News video: OPEC to scrap April meeting but keep oil cuts in place

OPEC to scrap April meeting but keep oil cuts in place 01:00

OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of U.S. sanctions on Iran and the crisis in Venezuela. Ciara Lee reports

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