Oil prices near 4-year lows amid OPEC uncertainty
ecPulse
2014-11-18 10:28AM UTC
Oil approached its lowest level in four years on Tuesday , amid conflicting expectations about the Organization of the Petroleum Exporting Countries’ (OPEC) decision expected in the 27 th of this month. Markets are hoping that OPEC will reduce the production ceiling in its awaited meeting, to maintain stability of global oil markets. Instability and uncertainty about the next OPEC step pose some concerns for the markets pushing oil prices further to the downside, amid continued worries due to weak global demand. Crude oil for delivery in January traded around 75.71 a barrel at 9:08 GMT.
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