Oil price rally slows as doubts creep in over OPEC cuts
Published: Tuesday, 06 December 2016
Since OPEC's agreement last week to curb oil output, oil prices have rallied to one-year highs. However, November production figures indicate another rise in output from the organisation.
Although oil prices have rallied since
last week’s announcement by the
Organization of the Petroleum Exporting Countries (OPEC)
– which agreed to curtail oil output – prices
slipped today as the market began to doubt that the
organisation will follow through on its promise.
Following a meeting in Vienna on 30...