Oil prices dip as prospect of deeper OPEC output cut dims
Oil slipped to one-week lows Monday, as several OPEC and non-OPEC ministers met to discuss a pact to curb oil output but the prospect of the group delivering deeper cuts grew more distant. The price fell 2.5 percent on Friday after a consultancy forecast a rise in OPEC production for July. “Deeper production cuts have been ruled out, but on the agenda will be caps for exempted OPEC members Libya and Nigeria,” PVM Oil Associates analyst Stephen Brennock said.
Source:: https://finance.yahoo.com/news/oil-steady-ahead-producer-meeting-061427582.html
