Canadian oil producers won’t be happy to hear that OPEC opted to leave its production quota unchanged at 30 million barrels per day.
USD/CAD rose to a session high of 1.1292 from 1.1250 after the decision. WTI crude oil prices fell as low as $70.87 from $72.40 on the headlines but have bounced back to $71.23.
WTI crude oil
Look for buy stops in USD/CAD above 1.1300.
