REPORT: OPEC is meeting this week. Here’s what it could do

BY TEAM DML / DECEMBER 5, 2018 /

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As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by CNN.com:

Dubai (CNN Business) — Six months ago, OPEC agreed to pump more oil to prevent prices spiking to $100 a barrel. Now the oil cartel is talking about cutting output to stop prices crashing below $50.

Members of the Organization of Petroleum Exporting Countries will meet in Vienna on Thursday. They’ll discuss how to stabilize the world market after US crude prices plunged 22% in November, marking the the worst month since the global financial crisis in October 2008.

The article goes on to state the following:

US crude oil is now trading around $53 a barrel, down from a four-year high above $76 in early October. Brent crude has plunged to $62 from above $86.

To get more information about this article, please visit CNN.com. To weigh in, leave a comment below.

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