OPEC Meets to Discuss Failing Prices and Oversupply

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Despite falling prices and the threat of oversupply from North American shale oil, OPEC decided not to curtail oil production following its latest meeting. Reacting to the news, WTI crude sold off sharply to end below $70/barrel; energy stocks, including solar and renewable-energy companies, tumbled. U.S. inflation expectations dropped on the news.

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