The Presidential Daily Brief

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  1. Oil Prices Slide After OPEC Stays Hand

    After OPEC announced Thursday that members would continue gushing 30 million barrels per day, prices of the U.S. benchmark crude dropped five percent to a four-year low of $69. In its early days, some ministers sought to fight the decline with production limits. But the cartel’s 12 petroleum-laden nations have different circumstances, and while Venezuela and Iran aren’t ready for a price trough, Saudi Arabia has money in the bank — and won’t risk losing customers to Russia or Mexico.

    NYT, Economist, BBC

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