Oil prices dropped early on Wednesday as Asia's top economies showed signs of weakness, but hopes for output cuts by producer club Opec curbed losses
Benchmark Brent crude oil futures were trading down 20 cents at $78.13 a bar
Will Opec go for a quick fix and worry about the future later or will it pass the challenge to US producers by allowing the price to remain low or go even lower? These are the questions that the market will be looking for answers to this Thursda
Iran will try to persuade Saudi Arabia to cut oil production when the oil ministers from the two Organization of the Petroleum Exporting Countries (Opec) members meet in Vienna, Iran's semi-official Mehr news agency reported citin
Oil prices could plunge to $60 a barrel if the Organisation of Petroleum Exporting Countires (Opec) does not agree a significant output cut when it meets in Vienna, market players say.
Brent crude futures have
A panel of national representatives reviewed Opec's oil market outlook for 2015, Opec sources said, preparing the ground for a policy-setting meeting Thursday that will decide how to address a looming oversupply of crude.
Oil analysts are putting down markers on the Organisation of the Petroleum Exporting Countries' (Opec) meeting on November 27, when members will consider whether to cut output to shore up prices.
Opec members Iran and Venezuel
Oil prices rose on Friday for their first weekly gain in two months with benchmark Brent crude returning to above $80 a barrel after a rally triggered by China's interest rate cut and speculation of an Opec output cut.
A panel of national representatives reviewed Opec's oil market outlook for 2015 this week, Opec sources said, preparing the ground for a policy-setting meeting next week that will decide how to address a looming oversupply of crude.
Brent crude oil rose to near $81 a barrel on Friday after China cut interest rates and on speculation that Opec could agree next week to reduce oil production.
China's central bank cut its benchmark interest rates for the firs