OPEC refuses to cut oil production in oversupplied market

By Kasia Patel
Published: Monday, 21 December 2015

Oil prices to stay lower for longer leaving oilfield mineral prices subdued.

Crude oil futures slumped to their lowest point in nearly seven years in December following a meeting held by the Organization of the Petroleum Exporting Countries (OPEC), which failed to address production rates in an oversupplied market.

Crude prices fell to $38.49 a barrel  on the West Texas Intermediate and...

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