Oil prices fall as the market awaited OPEC meeting
Date: 11/29/2016 11:09
Information / Baghdad ..
Oil prices fell on Tuesday, with the market anticipation of the meeting of OPEC to see whether the organization would agree to a significant reduction of production contributes to reduced supply in the global market surplus and price promotion at its meeting on Wednesday.
It was trading Brent crude at $ 47.80 a barrel by 0546 GMT, down 44 cents or the equivalent of 0.9 percent from the closing price yesterday.
The inn WTI US mediator in trading futures 42 cents, equivalent to 0.9 percent to $ 46.66 a barrel.
It starts the official OPEC meeting in Vienna on Wednesday to discuss production cuts planned in an effort to curb the excess that hangs over the market price to come down to less than half in 2014.
With growing uncertainty 24 hours before the OPEC meeting, traders say there is great potential for a sudden fluctuation of prices on the basis of news that comes from Vienna. Finished / 25 p.