Oil prices plunged to their lowest since late 2017 on Friday in choppy trading, weighed down by an emerging crude supply overhang and a darkening economic outlook.
To counter bulging supply, the Organization of the Petroleum Exporting Countries (Opec) is expected to start withholding output after a meeting planned for Dec. 6.
International benchmark Brent crude oil futures fell their lowest since December 2017 at $61.52 per barrel, before recovering to $62.13 by 0741 GMT. That was 47 cents, or 0.8 per cent below their last close. Read More
Latest posts by The Economic Times (see all)
- CIL drops plan to cut supplies to inefficient power plants - September 16, 2019
- Power gencos outstanding dues on discoms rises by 57 per cent to Rs 73,748 crore in July - September 15, 2019
- Aramco tells Indian refiner it will get oil: Source - September 15, 2019