Oil prices fall 3% on doubts over Opec output cut

London

OIL prices fell 3 per cent on Tuesday on signs that leading oil exporters were struggling to agree on a deal to cut production to reduce global oversupply.

The Organization of the Petroleum Exporting Countries (Opec) will meet in Vienna on Wednesday aiming to implement a deal outlined in September to cut output by around one million barrels per day (bpd), from around 33.82 million bpd in October.