| A year and a half after the Organization of the Petroleum Exporting Countries’ decision not to cut production levels despite a global glut of crude, oil prices have finally managed to climb back above $50—they just haven’t been able to stay there.
That is raising questions over OPEC’s power to control the oil market ahead of its regularly scheduled meeting this Thursday in Vienna. West Texas Intermediate and Brent crude have rallied roughly 67% from their lows this year but as of Tuesday, failed so far this year to settle above $50 a barrel...............................................Full Article: Source
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