Dubai-Mubasher: Oil prices declined on Monday, as a global oversupply showed no sign of easing.
Amir Hussein Zamani-Nia, Iran’s deputy petroleum minister, expressed hope that Iran and OPEC members will reach an agreement to absorb Tehran’s oversupply, according to FarsNews Agency.
At 9:53GMT, crude oil futures dropped 0.20% to $41.62 a barrel, their lowest in a week.
Brent fell 0.21% to $44.77 a barrel, the lowest also in a week.
Investors are anticipating OPEC meeting which will be held on 4 December amid forecasts of maintaining oil production levels despite the remarkable decline in prices.
