Were Traders Too Quick To Dump Oil? ...Middle East

The risk of the global economy slowing down further and slipping into negative growth territory has been on a strong increase in the past few months. So much so that oil prices lost about a quarter of their value in the third quarter after rising strongly over the first two quarters of the year.  It appears that this was only the beginning. Now, the UN is warning that a recession is imminent, and oil traders are selling their position and fleeing a market that may very soon see a positive development as OPEC+ is expected to agree to the deepest…

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