Archive - December, 2015

Oil prices have plummeted again (below $40 for WTI Crude & $43 for Brent) despite an initial surge of 3% late Thursday last week on the 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. WTI closed the Friday session 2.7% lower and was actually 3.8% down…

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