Oil falls below $50 a barrel as OPEC cut doubts put oil on pace for big weekly drop

Reuters, via CNBC/04-21-17

Oil prices fell more than 2 percent on Friday and were on course for their biggest weekly drop in a month due to doubts that an OPEC-led production cut will restore balance to an oversupplied market.

…The chief executive of France’s Total warned this week that prices could fall further due to rising U.S. production.

This entry was posted in Markets. Bookmark the permalink.

Comments are closed.