| International oil price benchmark Brent crude fell below $50 a barrel for the first time in three weeks yesterday following news that the likes of Iraq, Nigeria and Libya may opt out of an Opec agreement to cut production.
Apparent dissent in the ranks is adding to fears the deal, which is seen as an essential help to rebalance an oversupplied market, will never be fully agreed. Nevertheless, Brent crude returned to a shade above $50 as prices rebounded last night and this morning, in part because of building unrest in Opec member state Venezuela, which has seen "escalating protests… against the rule of President Nicolas Maduro", says Reuters..........................................Full Article: Source
|