Friday, 7 December 2018

Oil Sinks As OPEC Mulls Iran Supply Cut Exemption, Tries To Get Russia On Board

Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.

International Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel at 0750 GMT, down 53 cents, or 0.9 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $51.05 per barrel, down 44 cents, or 0.9 percent.

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