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Oil Price Seen Falling to $60 if OPEC Output Not Cut

Oil prices could plunge to $60 a barrel if OPEC does not agree a significant output cut when it meets in Vienna this week, market players say. Brent crude futures have fallen 34 percent since June to touch a four-year low of $76.76 a barrel on Nov. 14, and could tumble further if OPEC does not agree to cut at least 1 million barrels per day (bpd), commodity fund managers say. “The market would question the credibility of OPEC and its influence on global oil markets if there was no...

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