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Oil drops as OPEC makes supply cut dependent on Russian support

Reuters India Friday, 7 December 2018 ()
Oil prices fell on Friday, pulled down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia.
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News video: OPEC And Russia May Cut Oil Production By 1 Million Barrels

▶ OPEC And Russia May Cut Oil Production By 1 Million Barrels 00:47

According to Reuters, OPEC and Russia may curb up to 1.2 million barrels of oil per day. Back in 2016, OPEC and Russia agreed to 18 months of production cuts to stabilize oil prices, and reduce a growing supply glut. But in October 2018, oil production by OPEC member nations was back up above their...

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