¬†Fading hopes of a meaningful cut in production at Thursday’s OPEC meeting sent oil prices tumbling to a four-year low as Thanksgiving in the United States saw world stocks touch the brakes on¬†their recent rally. Gulf oil producers led by Saudi Arabia are expected to press the case at OPEC’s meeting in Vienna for holding off from output cuts, despite calls from some members for it to prop up prices that have crashed by a over a third since June. OPEC sources have told Reuters action is unlikely and Brent oil dropped by more than $1.75 in Asian and early European trading to $75.95 a barrel, the lowest level since September 2010. “The scene has been set by the Saudi comments going in to this meeting that market forces should be allowed to determine the price here,” said National Australia Bank strategist Gavin Friend. “I think […]