Oil Lower On Expectations OPEC Won't Cut Output

MarketWatch Pulse

Oil futures cut short an attempted rebound Wednesday on news reports that indicated OPEC is unlikely to cut production. Nymex WTI January crude futures fell 41 cents, or 0.6%, to trade at $73.68 a barrel, after earlier notching a four-year low at $73.30. Reuters, citing three unnamed OPEC delegates, said the cartel is unlikely to lower its output ceiling when it meets Thursday in Vienna.

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