| Core Gulf OPEC oil producers signaled this week they are prepared to wait as long as six months to a year to see the market stabilize, quashing hopes for any quick intervention to stop the price rout that took crude to under $60 per barrel.
Some OPEC watchers had identified $60 as a potential red line at which the group, which produces a third of global oil, was expected to send a signal to the market that the decline had been too fast and too steep............................................Full Article: Source
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