OPEC Production Hits Three-Year High As Oil Price Continues Slump

Finally, as can be seen in the chart below, the impact of the report was to promptly squash any hopes that oil may have had for even a modest price rebound today (at least until the algos take over 30 minutes ahead of the NYMEX close at 2:30pm in the well-documented “banging the upside close” phenomenon).

This article is brought to you courtesy of Tyler Durden From Zero Hedge.
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