OPEC to consider PM Modi's views on deciding global oil prices

Oil falls as high inventories outweigh likely OPEC cuts

Global crude oil prices slipped further today, as swelling inventories depressed sentiment despite widespread expectations that OPEC and Russia would agree some form of production cut next week. Both international oil benchmarks, North Sea Brent US crude have had their weakest month for more than 10 years in November, losing more than 20 percent as global supply has outstripped demand. So Brent fell 55 cents, to trade at 58.96 dollars a barrel. US crude dropped 75 cents, to 50.70 dollars a barre...

Oil prices hit year low

Oil prices on Friday fell to their lowest this year, on course for their biggest one-month decline since late 2014 when OPEC opted to pump as much crude as it could to gain market share and sent prices on a near-unbroken two-year slide. Brent crude prices, in intra day trade today, were trading around 60 dollars and 80 cents while WTI prices were at around 52 dollars and 20 cents when reports last came in.