Oil prices plunge as Opec delays decision on cutting output

Oil prices plunge as Opec delays decision on cutting output
 

Oil prices have fallen by more than 3% to below $60 a barrel, after the world’s major producers postponed announcing an expected cut in output.
At a crunch meeting in Vienna this week, the Opec cartel has tried to plot a course between protecting member countries’ revenues and not angering Donald Trump, who just hours before had called for oil to keep flowing because the world does not want high oil prices.
While sources said the group had agreed on the need to curb production, it is believed Opec has not yet reached agreement on the exact figure. Brent crude, the international benchmark,... read more

 
6 December 2018 in Business, Views: 52
Source: Guardian
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