Oil Prices Fall As OPEC Output Cut Extension Depresses The Market

Oil Prices Fall As OPEC Output Cut Extension Depresses The MarketĀ  Oil prices fell on Tuesday, pressured by concerns that production cuts by the world’s big exporters may not be enough to drain a global glut that has depressed the market for almost three years, as reported by REAUTERS. Benchmark Brent crude LCOc1 was down 45 cents a barrel at $51.84 by 1000 GMT (6 a.m. ET), having gained 14 cents on Monday. U.S. light crude CLc1 was 25 cents lower at $49.55. The Organization of the Petroleum Exporting Countries and other oil producers, including Russia, agreed last week to … Continue reading Oil Prices Fall As OPEC Output Cut Extension Depresses The Market