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Oil Dips as Continued OPEC Cutbacks are Likely

From rigzone.com

Oil settled little changed Tuesday, after swinging between gains and losses, with OPEC+ set to affirm its policy of production cuts amid tensions in the Middle East and Russia. West Texas Intermediate settled above $81, while global benchmark Brent closed above $86 a barrel. OPEC+ delegates aren’t seeing a need to change supply policy at a review meeting next week, according to several national officials, with quotas in place until June proving effective. The Houthis renewed threats against Saudi Arabia if it supported US strikes. The technical backdrop helped keep oil range-bound Tuesday, with crude’s moving ... (full story)

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  • Category: Fundamental Analysis