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Nordea: Oil will flood the market after failed OPEC meeting

On Monday the price of crude fell by over five percent after OPEC failed to reach agreement for a cap on the oil output at a meeting in Qatar on Sunday. "Big disappointment for the oil industry," says Thina M. Saltvedt of Nordea Markets in Oslo.

Photo: Royal Dutch Shell PR

The global market prices dropped on Monday by more than five percent.

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