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Oil Holds Loss as OPEC Talks End Without Deal to Curb Production
Friday, 7 December 2018 07:47 WIB | ENERGY |MinyakWTIBrentOil,

Oil held a loss below $52 a barrel after OPEC talks ended without a deal to curb production.

Futures in New York were little changed after slumping 2.7 percent Thursday. Saudi Arabia Energy Minister Khalid Al-Falih said in Vienna he isn™t confident of an agreement when the Organization of Petroleum Exporting Countries meets again with its allies on Friday.

A proposal for a combined OPEC and non-OPEC cut of 1 million barrels a day was left dangling in uncertainty.

OPEC Ministers discussed whether to exempt Libya, Venezuela and Iran from making oil production cuts, a delegate said.

WTI for Jan. delivery trades at $51.63/bbl on Nymex, added 14c, at 8:37am in Tokyo. Contract fell $1.40 to $51.49 on Thursday.

Feb. Brent fell $1.50 to $60.06/bbl on ICE Futures Europe exchange on Thursday. Brent ended session at $8.36 premium to WTI for the same month.

Source: Bloomberg

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