producers-were

Oil slumps 4 percent as no output deal expected for OPEC

Oil prices tumbled 4 percent on Friday on signs Saudi Arabia and arch rival Iran were making little progress in achieving preliminary agreement ahead of talks by major crude exporters next week aimed at freezing production. U.S. West Texas Intermediate (WTI) crude futures fell $1.84, or 4 percent, to settle at $44.48. Crude futures slumped after sources said Saudi Arabia did not expect a

View original here: 
Oil slumps 4 percent as no output deal expected for OPEC

producers-were

Oil climbs as Venezuela sees output deal, Libya suffers clashes

Oil prices rose almost 2 percent on Monday, after Venezuela said OPEC and non-OPEC producers were close to reaching an output deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. Venezuelan President Nicolas Maduro has said that a deal could be announced this month to stabilize oil markets, which have come under pressure due to a persistent glut and a …

Originally posted here:
Oil climbs as Venezuela sees output deal, Libya suffers clashes