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Crude ETFs Plummet as Oil Drops More than 8%

Crude ETFs Plummet as Oil Drops More than 8%
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Oil Markets Will Tighten Regardless Of OPEC s Decision

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Saudi Arabia has rejected Reuters opposition to the OPEC + agreement in the Basque Country

By Marwa Rashad and Ghaida Ghantous DUBAI (Reuters) – Saudi Arabia’s energy minister backed a crackdown on OPEC + dealers in the United Arab Emirates on Sunday and called for “commitment and rationality” when the group meets again on Monday to reach an agreement. There was a rare public debate among allies whose national interests were increasingly different, as OPEC + policy began to implement a crude recovery at the time when consumers wanted a global recovery from the COVID-19 pandemic. OPEC +, which brings together the Organization of Petroleum Exporters and its allies, on Friday voted to raise about 2 million barrels a day from August to December 2021 and extend the rest of the cuts to the end of 2022, but the deal hampered the deal, sources said.

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