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Russia and Saudi Arabia will not be happy now that Brent falls below $76

We know that the OPEC and OPEC+ oil producing nations always have a vested interest to see higher oil prices and we also know, that right now both Russia and Saudi Arabia are surely not happy to see oil prices continuing to fall this week. The price of Brent crude for February delivery has just now fallen to below $76 for the first time since July. In fact Vladimir Putin is apparently on his way to visit Saudi Arabia as I write this update. As to what these two oil producing nations can do to halt the current downside remains unclear, but halt it they will surely try and do. The DAX is loving this move though for sure. Brent crude for February delivery has just now hit a new low on the week at $75.70. It is currently trading at $75.78

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