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Daily Traders Edge

Oil prices stable after OPEC signals possible further action

October 09
15:30 2017

Oil prices stable after OPEC signals possible further actionOil prices stabilised on Monday after one of the most bearish weeks in months, propped up by OPEC comments signalling the possibility of further action to restore market balance in the long term. Oil production platforms in the Gulf of Mexico started returning to service after Hurricane Nate had forced the shutdown of more than 90 percent of crude output in the area. Mixed signals keep investors busy changing their minds,” said Hans van Cleef, senior energy economist at ABN Amro.


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