Oil slips as traders eye supply cut easing at Opec meeting

The Business Times | Jul 13, 2020 at 2:00 AM
  • Oil slipped in early Asian trade on Monday as traders eyed an Opec technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.
  • Opec and Russia were expected to ease their supply cuts as global oil demand has recovered and prices have bounced back.
  • Libya exported its first crude cargo in six months on Friday after a blockade by eastern forces, but then re-imposed force majeure on all oil exports on Sunday.