Oil prices down on concerns over OPEC deal

Mubasher: Oil prices fell in Asian trade on Friday as doubts grew over whether the OPEC deal to curb production would cut oversupply.

Brent crude oil retreated 1.1% to reach $53.2 per barrel (pb) by 6:30am GMT.

The US crude oil futures declined 1.13% to $50.78 pb.

The OPEC members agreed in their meeting in Vienna to cut the oil output for the first time since 2008.

Mubasher Contribution Time: 02-Dec-2016 08:46 (GMT)
Mubasher Last Update Time: 02-Dec-2016 08:46 (GMT)