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Thursday, 17 November 2016

Oil falls as stronger dollar outweighs OPEC deal optimism | Reuters

Oil falls as stronger dollar outweighs OPEC deal optimism | Reuters:
"Oil prices settled slightly lower on Thursday, then fell as much as 1 percent in the after-market session as a stronger dollar outweighed expectations of an OPEC deal to limit production.

Oil started the day in the positive, with U.S. crude briefly up by as much as $1, on optimism that the Organization of the Petroleum Exporting Countries (OPEC) would reach an agreement to cap production at its meeting in Vienna on Nov. 30.

Saudi Energy Minister Khalid al-Falih said he was optimistic about OPEC's deal to limit oil output, while Venezuelan President Nicolas Maduro said OPEC members are ready to reach a "forceful" agreement, following a meeting with OPEC Secretary-General."

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