Oil Trades Near 3-Week Low as OPEC Deal Faces ‘Stumbling Blocks’

Oil Trades Near 3-Week Low as OPEC Deal Faces ‘Stumbling Blocks’

October 27, 2016
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By hellenicshippingnews Oil traded near a three-week low below $50 a barrel as traders remained skeptical that OPEC will manage to curtail production following its surprise deal in Algiers last month. Futures rose 0.3 percent in New York after falling 1.6 percent Wednesday. OPEC Secretary-General Mohammed Barkindo urged members to show “maximum flexibility” to agree on output cuts, after saying … Read full story ›

Source:: Hellenic shipping news Oil