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MARKET WATCH: NYMEX, Brent oil prices rise after pre-holiday slide

October 19, 2020 by

“The [crude] market was simply spooked,” ending 2018 with lots of supply, Schnider said. He added that the Organization of Petroleum Exporting Countries “still is here and I think the market is underestimating” the market effect of oil production cuts starting in January 2019.

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