German commercial banks (Commerzbank) said in a report: “OPEC and non OPEC oil producers on the weekend talks failed to reach any agreement, the oil prices at the beginning of the week began a downtrend.”
To add, if the investigation showed that October OPEC crude oil output rose again, the oil prices downward pressure will be greater.
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According to sources, on Friday OPEC members failed to reach an agreement on the production, mainly in Iran firmly opposed the increase of the internal differences.
Although the OPEC and non OPEC oil producers said in a joint statement, the talks between the two sides have made positive progress, is expected to reach a global agreement to limit production in November 30th policy meeting. But many analysts of this verbal intervention has been uninterested, PVM director RobinBieber OPEC pointed out that the production agreement had been shaky”.
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