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Crude Plunges Following OPEC Decision to Not Cut Production

MishTalk

Nonetheless, and in spite of falling prices and pleas from Venezuela to restrict production, OPEC decided to take no action. The group maintained its collective production ceiling of 30 million barrels a day, Ali Al-Naimi, Saudi Arabia’s oil minister, said yesterday after the 12 nations met in Vienna. Brent crude dropped as much as 8.4

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Emerging Market Contagion Spreads; Argentina, Venezuela, Turkey Roundup; 50% Tax on Internet Purchases

MishTalk

“The current environment is potentially very toxic for emerging markets,” Eamon Aghdasi, a strategist at Societe Generale SA in New York, said in a phone interview yesterday. Venezuela Reserves In Venezuela, the government devalued its currency for airline tickets and incoming foreign direct investment on Jan.