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What the OPEC standoff means for oil prices and financial markets

What the OPEC standoff means for oil prices and financial markets

Joe Klamar/Agence France-Presse/Getty Images

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A standoff between Saudi Arabia and the United Arab Emirates has investors once again questioning the future of the Organization of the Petroleum Exporting Countries, or OPEC, while weighing implications for crude oil and financial markets.

Oil prices whipsawed Tuesday, hitting six-year highs before pulling back sharply, as traders weighed whether the stalemate over a call to further relax output curbs would keep crude off the market or spark a production free-for-all.

OPEC’s obituary has been written before, so talk of the cartel’s demise should be taken with a grain of salt. Continue reading What the OPEC standoff means for oil prices and financial markets