Oil prices volatile on OPEC speculation

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WTI Crude oil prices are trading volatile on Thursday. Price action rose to intraday highs of 28.32 while setting a low of 25.10.

The volatility comes amid speculation that Saudi Arabia and Russia are agreeing on cutting oil output by 20 million barrels.

Price action remains within the range of 28.00 and 22.00.

We expect this ranging price action to continue until there is a strong breakout from one of the levels.

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