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Oil Investors Shrug Off U.S. Election While Focused on OPEC

  • Bets on lower WTI crude prices climb most since May 2012: CFTC
  • OPEC scheduled to finalize cuts by Nov. 30 meeting in Vienna
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BP's Dudley Says Oil Supply and Demand Generally Balanced

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Oil investors seem to be the only ones uninterested in Donald Trump’s election. 

Money managers raised bets on falling oil prices by the most in more than four years in the week leading up to Trump’s surprise win, amid waning belief in OPEC’s ability to meaningfully cut production. Members of the Organization of Petroleum Exporting Countries are due to meet Nov. 30 to finalize a deal to curb output. Failure to reach one may send oil lower amid “relentless global supply growth,” the International Energy Agency said Nov. 10.