Oil prices edge lower on OPEC output

15 Aug 2017   OPEC, Prices

Crude oil prices edged lower early Monday on signals of declining volatility and reports of a stronger position from OPEC-member Libya. Sandy Fielden, the director of research, commodities and energy at Morningstar, said in a report that crude oil prices were settling into a relatively narrow range, which would indicate the volatility that followed a decline in crude oil prices that started in the second half of 2014 is finally starting to ease. “Although outside factors such as geopolitical instability — think Venezuela or North Korea — can always throw a curveball, the indications are that today’s relative stability is here to stay until the next system shock,” his report read. Crude […]

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