OGJ NEWSLETTER

Oil markets are anxiously waiting for the other shoe to drop. OPEC's surprising refusal to cut production at its Nov. 23-24 ministerial meeting in Vienna (see story, P. 26) has industry price and market projections cutting a wide swath. Market observers are taken aback at the sight of OPEC ministers blandly predicting continued near term price declines as a result of their actions.

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