SUBSCRIBERS
Oil prices hit fresh lows as Opec begins pivotal meet
12-member cartel under pressure from Venezuela and Ecuador to cut output
Published Thu, Nov 27, 2014 · 09:50 PM
Vienna
OPEC ministers met on Thursday to decide whether to slash oil production amid a glut in global supplies, sending crude prices to new lows ahead of their pivotal vote.
The 12-nation oil cartel is under pressure from its poorer members such as Venezuela and Ecuador to cut output as collapsing prices have slashed their precious revenues.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire
Glencore now sees FY trading division profit between US$3 billion-US$3.5 billion
Hong Kong team plants seeds to safeguard legacy grains
Gold holds steady as investors focus on US Fed meeting
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Oil falls more than US$1/barrel on Middle East peace talks, US rate cut doubts