Oil prices drop as small Opec producers don’t stick to plan
Opec+ failed to agree to hold meeting as smaller players have not stuck to their agreed output cuts, and as US fuel inventories soar
04 June 2020 - 12:35
London — Oil prices dropped on Thursday on doubts over the ability of crude producers to agree to extend record output cuts, heightened by worries over a build in US fuel inventories.
Brent crude futures eased by 29c to $39.50 a barrel by 8.39am GMT, heading for its first fall in six sessions. US West Texas Intermediate (WTI) crude futures dropped 53c to $36.76...
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.