Oil trades in a tight range with OPEC meeting in focus
ecPulse
2014-11-25 12:36PM UTC
Oil traded in a limited range on Tuesday ahead of the awaited Organization of the Petroleum Exporting Countries (OPEC) meeting on the 27 th of November in Vienna. Markets are focusing on the OPEC meeting results, in light of conflicting expectations between reducing production ceiling or keeping it, trapping oil prices in limited trading areas. This came amid concerns over weakening global demand and oil surplus in markets in exchange for weak demand. Oil prices are expected to remain volatile till the end of the meeting and its outcome. Oil for January delivery inched 0.28% higher at 9:33 GMT around 75.99.
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