5 May 2024
Oil price tumbles amid higher US output and OPEC doubts
Publication date: 01 November 2016
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
Twitter @GasStrategies
Editorials
Subscriptions
Growing doubts about the prospects of OPEC agreeing to curb production – even amongst its members, let alone with non-OPEC producers like Russia – have sent oil prices tumbling from the year-highs they reached at the end of September.
Brent crude, the international benchmark, hit a year-high of USD 53.73/barrel following the September 28 meeting of oil producers in Algiers, where OPEC members agreed to cut production to support prices.