Weekly Fundamentals – Traders Remain Hopeful Although Oil Producers Shrugged Off Extending Output Cut

Crude oil prices extended gains for a third consecutive week, as the impacts of Hurricane Harvey and Irma gradually fade away. The OPEC/non-OPEC meeting did not signal intention to extend the output cut deal. Yet, the market remains hopeful that the producers would eventually, probably by January 2018, agree on it. The meeting on Friday was a monitoring committee meeting ...

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