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Oil & Ruble Dump, Gold Jumps On Leaked OPEC Decision – “No Cut In Production”

[Ed. Note: To all of the mainstream mockingbird liars who continue to claim that silver “is just an industrial metal”, look at the charts again today. Silver, like gold, IS money.]

from Zero Hedge:

With just over an hour until OPEC’s press conference, details are leaking:

OPEC HAS AGREED TO OIL OUTPUT POLICY ROLLOVER, SETS TARGET AT 31.5 M B/D AFTER INDONESIA JOINS: DELEGATE. This increases the output limit up from 30 million but is merely reflective of the current real output from the Cartel of 31.5 million barrels. And crude is crashing, Ruble is dumping and gold is jumping.

With just over an hour until OPEC’s press conference, details are leaking:

  • OPEC SETS TARGET AT 31.5 M B/D AFTER INDONESIA JOINS: DELEGATE
  • OPEC HAS AGREED TO OIL OUTPUT POLICY ROLLOVER

OPEC agreed to set a new oil-output ceiling of 31.5 million barrels a day, according to a delegate with knowledge of the decision.

The increase is from a previous ceiling of 30 million barrels and does not include production from Indonesia, which joined the producer group after a break of almost seven years, according to the delegate, who asked not to be identified because the decision hasn’t been made public.

But current production is at 31.5 million barrels, and so this is OPEC adjustinmg up to the current reality.

 

And Crude is plunging back below $40…

 

And gold is jumping…

 

As The Ruble tanks…

 

Read More @ ZeroHedge.com

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