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FINANCIAL NEWS
Oil falls after Opec sticks to present production rates
05 Dec 2015
(MENAFN) Oil fell down after Opec will carry on producing at levels which will surpass its own goal.
Furthermore, the Organization of Petroleum Exporting Countries is dedicated to production of almost 31.5mn barrels a day.
However, oil has fallen since Saudi Arabia led Opec’s choice to keep producing and protect market share against higher-cost rivals.
Additionally, falling crude prices supported spur a rout in oil-industry stocks, while its Energy Sector Index dropped 21 percent in this year.
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