OPEC meeting ends with no change

Despite some market rumours that a production target would be reintroduced, the producers' bloc did not come to any agreement on output levels.

By Edward Bell

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As we expected there was no change in policy from OPEC's semi-annual meeting on June 2nd. Despite some market rumours that a production target would be reintroduced, the producers' bloc did not come to any agreement on output levels but in general the sentiment surrounding the meeting seems to have been much more constructive than the failure to agree on a freeze at Doha in April.

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