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Crude Oil Prices May Extend Gains as Investors Eye OPEC JMMC Meeting 2020-12-13 03:00:00 Daniel Moss, Analyst Crude Oil Fundamental Forecast: Bullish Positive vaccine developments and a more moderate than expected easing of OPEC+ output cuts may continue to propel crude oil prices higher. OPEC’s Oil Market Report and Joint Ministerial Monitoring Meeting may dictate near-term price action. Vaccine Progress to Underpin Oil Prices Crude oil prices have stormed higher since falling to multi-month lows at the start of November, climbing over 40% in the last 6 weeks on the back of positive Covid-19 vaccine progress and the decision by OPEC+ to ease output cuts more moderately than expected.

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