Oil down as OPEC postpones bigger cuts until December

Anadolu Agency | Sep 13, 2019 at 12:05 PM
  • Oil prices were down early Friday as OPEC postponed the decision to make further oil production cuts until its next ministerial meeting on Dec. 5 and 6 in Austria.
  • Iraq and Nigeria, the two OPEC nations that have not been previously complying with their individual output cuts in recent months, pledged Thursday to lower their production levels in line with their respective caps.
  • Nigeria is estimated to lower its output by 57,000 bpd.