Oil prices deny a generally upbeat market sentiment with Brent (OIL) at -1.4% and WTI (OIL.WTI) declining 1% to fresh 2018 lows. The commodity suffers amid lack of consensus for the output cut between the OPEC and Russia as president Putin said he was happy with oil at $60 and the Saudis are reluctant to cut output alone. The next OPEC meeting will be held on 6 December but the key decisions might be taken at the G20 summit this weekend. Traders can take short position in OIL if they expect Brent prices to fall further or long positions if they see prices rebounding.
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