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Tag Archives: Oil price

OPEC strikes deal to cut output

30 Wednesday Nov 2016

Posted by tjungbau in Cartel, Oil

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Oil price, OPEC, Vienna

OPEC has finally agreed on a deal, in Vienna of course, to cut oil output causing the oil price to immediately surge by 8%. While there is still uncertainty whether the once mighty cartel still has the ability to enforce, the questions whether they will ever again agree on deal seem to be answered.

Look here for a comprehensive treatment in the Wall Street Journal.

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