While you were sleeping: Oil sinks as OPEC holds

Thu, 27 Nov 2014

By Margreet Dietz Nov. 28 (BusinessDesk) - Oil slumped, and so did energy stocks, after OPEC ministers decided to maintain the group’s production targets, instead of curbing supply to help a slide in prices. West Texas Intermediate crude sank more than 6 percent to US$69.05 a barrel while Brent crude slid below US$72 a barrel for the first time in more than four years. The exporting group opted to keep its collective output ceiling of 30 million barrels a day. “Recording its concern over the rapid decline in oil prices in recent mon...

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