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WisdomTree comments on Opec meeting

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Nizam Hamid (pictured), ETF Strategist in Europe at WisdomTree has commented on Opec’s meeting yesterday, writing: “Opec’s long-awaited meeting has disappointed investors, with oil prices giving up recent gains after members dashed expectations of deeper cuts to production and merely reiterated the status quo.

“The falls may provide a buying opportunity for investors who believe in the long-term story for oil, but they also highlight the environment of heightened volatility which the commodity is facing.

“With supply side dynamics undergoing a fundamental shift thanks to the impact of US shale, only decisive action from Opec will boost prices from current levels, and so far investors have not been satisfied that Opec is tackling the issue aggressively enough.”
 
 

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