Oil hits fresh 3-month low following OPEC meeting
Posted on December 7, 2015 at 2:58 pm GMTThe oil price was under intense pressure during Monday’s trading, as the market digested OPEC’s decision to more or less keep pumping at will. The oil price was trading well below the $40 level, which it also violated the previous week (this refers to the US WTI benchmark). The fact that there was no OPEC ceiling to adhere to drove prices even lower than the news that the ‘old’ 30 million barrels a day ceiling had been raised to 31.5 [..]