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Oil is trading flat
This morning, New York crude oil futures for Brent and WTI traded almost flat as traders expect new informations on the production cut from the OPEC meeting. However, analysts warned that the failure of this initiative will lead to an increase in the oversupply in early 2017. At present, there are discusions between cartel members and Russia to agree on a coordinated restriction of production to support the market, balancing supply and demand.
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