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All eyes on Opec as US oil prices fall erasing any gains for the year
It's all eyes on OPEC as US oil prices fell for 10 consecutive days, wiping out any gains for the year. The plunge will push OPEC and its allies into a corner as they gather in a highly-anticipated meeting this weekend that could yield a signal on future production cuts. The Iranian sanctions were supposed to be a game-changer in the market, said Michael Loewen, a commodities strategist at Scotiabank in Toronto.
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