Oil Weighed Down as Global Economic Gloom Rains on OPEC's Parade - Bloomberg:
Oil struggled to recover after suffering its worst reaction to an OPEC meeting in more than four years.
Futures were marginally higher in New York after an industry report showed American oil inventories declined by almost 5 million barrels last week. Prices were still far from recovering their 4.8% loss on Tuesday when concerns about the global economy overshadowed a decision by the Organization of Petroleum Exporting Countries and its allies to extend output cuts for nine months. It was the biggest drop following an OPEC gathering since November 2014.
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