Oil prices dip on weak demand outlook, supply concerns

Financial Post | Oct 21, 2019 at 1:12 AM
  • Global benchmark Brent crude oil futures fell by 10 cents, or 0.2%, to $59.32 a barrel by 0108 GMT.
  • The Organization of the Petroleum Exporting Countries (OPEC), Russia and other oil producers, an alliance known as OPEC+, agreed in December to reduce supply by 1.2 million barrels per day (bpd) from the start of this year.
  • Talks between OPEC members Kuwait and Saudi Arabia to restart oil production from jointly-operated fields in the 500,000 bpd Neutral Zone added to concerns of rising supplies.
More sources