Oil Slips as Traders Eye Supply Cut Easing at OPEC Meeting

New York Times | Jul 13, 2020 at 3:32 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.
  • Brent crude fell 27 cents to $42.97 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $40.27 a barrel, down 28 cents.
  • Prices rose more than 2% on Friday after an upward revision by the International Energy Agency in its 2020 oil demand by 400,000 barrels per day.