While you were sleeping: Oil sends stocks lower

Wed, 10 Dec 2014

By Margreet Dietz Dec. 11 (BusinessDesk) - Equities on Wall Street and in Europe fell with oil prices after OPEC downgraded its forecast for 2015 global demand to the lowest level in 12 years, while Saudi Arabia’s oil minister maintained the nation’s resistance to cutting output. "Why should we cut production? Why?" Saudi Oil Minister Ali al-Naimi told journalists on the sidelines of an annual UN climate change conference in Lima, Peru, Reuters reported. Separately, the Organisation of Petroleum Exporting Countries downgraded its predi...

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