WORLD OIL MARKETS AWAIT OPEC DECISION TODAY

As the meeting between Saudi Arabia, Venezuela, Russia and Mexico on Tuesday failed to achieve a consensus on whether to cut production, world oil markets, oil-dependent economies and investors are increasingly looking forward to the outcome of today’s meeting of the Organisation of Petroleum-Exporting Countries.

A cut in production by OPEC, which supplies a third of the world’s crude oil, is needed to shore up prices, which have fallen more than 30 per cent from more than $110 per barrel in June.

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