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Crude losses $0.14

Posted on: May 31, 2017

The markets require further affirmation that OPEC cuts and compliance levels will remain high and adhered to. Russia’s President Putin and Saudi Arabia’s deputy Crown Prince spoke in Moscow after the OPEC deal took place and the relationship appears to be strengthening which could have unforeseen long-term strategic impact moving forward. In Libya, there was no revision for the 25K barrel drop in daily output from National Oil Corp where the region witnesses heightened geopolitical risk. Overall, WTI futures lost $0.14 to settle at $49.66.


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