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If OPEC drives down oil again, chances are it will fall hard

OPEC headquarters in Vienna.
Justin Solomon | CNBC
OPEC headquarters in Vienna.

If OPEC officials meeting in Vienna talk down the price of crude, chances are good it could take a fairly deep dive over the next week, according to past history.

Analytics firm Kensho found that oil on average has been down 2.2 percent in the week after OPEC meetings during the past five years.

Crude traded lower after meetings 50 percent of the time, and when oil did move lower, the price declines were on average steeper than the gains.

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