25 April 2024
Opec pulls rug from under Brent
Publication date: 28 November 2014
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Despite the less-than-subtle hints about what was coming, news that Opec had decided to maintain oil production at 30 million barrels/day - some 1 million barrel/day over demand - sent shockwaves through the markets, with global benchmark Brent dipping to a four-year low of USD 71.25/barrel during trading on Thursday, before closing out at USD 72.45/barrel.