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OPEC+: Producers will continue consultations to stabilise the oil market

In a statement published following Friday's meeting in Vienna, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, noted that producers will continue consultations to stabilise the oil market.

The statement hasn't mentioned anything regarding additional output cuts or an extension of existing production curbs.

Crude oil reaction

Crude oil prices remain under pressure after this statement. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $42.70, erasing 7.1% on a daily basis.

WH adviser Kudlow: Considering immediate fiscal measures, separate from tax cuts

"The Trump administration is considering immediate fiscal measures, separate from the tax cut being crafted ahead of the election," White House econom
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WTI oil dips below $42, lowest since August 2016 as OPEC+ fail to agree production cuts

more to come
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