Oil prices fall over doubts that non-OPEC producers will cut output

Oil prices fall over doubts that non-OPEC producers will cut output
 

Oil prices fell on Monday over doubts that an OPEC-led plan to cut output would rein in a global oversupply that has dogged markets for over two years.
Brent crude futures LCOc1 were trading at $51.46 per barrel at 0106 GMT, down 0.47 cents or 0.91 percent, from their last settlement.
U.S. West Texas Intermediate (WTI) futures CLc1 were down 49 cents or 0.98 percent, at $49.32 a barrel.
The Organization of the Petroleum Exporting Countries (OPEC) plans to agree on an output cut by the time it meets in late November.
The targeted range is to cut production to a range of 32.50 million barrels... read more

 
10 October 2016 in Business, Views: 40
Source: Reuters
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