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Abshire-Smith Market Analysis

Is OPEC as we know it now dead?

Oil prices have plummeted again (below $40 for WTI Crude & $43 for Brent) despite an early surge of 3% late Thursday last week on the initial news that OPEC would increase output. The outlook, however, grew more confusing as the seven hour Friday OPEC meeting progressed; it eventually resulted in OPEC delaying its scheduled news conference and then ultimately failing to confirm the news reports of a production increase....

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