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Oil prices fall as economics trumps geopolitics

imageAt the recent OPEC meeting Saudi Arabia argued for oil production levels to remain stable. www.shutterstock.com

As at early December, the international price of crude oil is around US$70 a barrel, depending on grade.

Over the last six months, oil prices have slumped by 30% and crude oil is now at its lowest level since mid-2010.

Recently OPEC...

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