Oil slips on increase in US stocks
Opec is mulling whether to deepen production cuts amid concerns of weak demand growth, which could put a brake on the decline
23 October 2019 - 07:56
Singapore — Oil fell on Wednesday after gaining more than 1% in the previous session as US industry data showed a bigger-than-expected build in crude stockpiles, but the possibility of deeper output cuts from the Organisation of the Petroleum Exporting Countries (Opec) and its allies contained the decline.
Brent crude futures dropped 31c, or 0.52%, to $59.39 a barrel by 4.05am GMT on Wednesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.