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Oil prices are trading at 4-year lows ahead of the OPEC meeting today in Vienna starting at 09:00 GMT. In today's trading session with Brent Crude is trading -2.42% at USD75.87 a barrel and WTI Crude declined -2.06% currently quoted at USD72.17. Yesterday Saudi Arabia's Oil Minister Ali al-Naimi and United Arab Emirates Suhail bin Mohammed al-Mazroui, said they expected the oil market to stabilize itself. Strong signs that that a cut in output is unlikely. The leading OPEC members resist to cut output as they fear losing market shares to U.S. shale drillers. Economic slowdown in the Eurozone and China put further pressure on prices.
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