There was, yet, another leg lower for oil prices, yesterday, as Brent crude oil prices broke below the $80 mark with conviction, and WTI prices fell below $74 for a time. OPEC members are running around all over the place meeting with each other, trying to figure out what to do. The main plan seems to be trying to convince Saudi Arabia to cut output, solo, in order to save the day. So far, the Kingdom is not showing a willingness to do so. Saudi Arabia is willing to suffer lower oil prices, in order to maintain market share and their relevancy.
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