- Crude oil prices are lower ahead of what some see as a make-or-break OPEC meeting.
- Though OPEC already agreed in principle to cap output at 32.5M to 33M barrels a day, the details that emerge from the November 30 gathering and Russia's stance after the OPEC decisions are announced will be crucial.
- The oil market is poised for volatility next week with managed short positions on many WTI and Brent contracts standing at record levels.
- WTI crude oil futures -1.86% to $47.07/bbl at last check. Brent crude -2.08% to $47.98/bbl.
- ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, XES, IYE, IEO, FENY, IEZ, PXE, FIF, PXJ, RYE, NDP, GUSH, DRIP, DDG, FXN, CRAK, SOP, UOP, NANR.