SME Times News Bureau | 21 Nov, 2017
Oil prices declined as investors became cautious ahead of an OPEC
(Organisation of the Petroleum Exporting Countries) meeting next week, a
media report said.
OPEC and other key oil producers will meet on
November 30 to discuss whether to extend the current price-supporting
curbs on crude output, Xinhua news agency reported.
In a bid to end a global oversupply, the group has been restraining output since the start of this year
It is widely expected that the agreement will be extended to cover the next year.
Meanwhile,
a strong dollar dented market sentiment for the dollar-priced oil. The
dollar index, which measures the greenback against six major peers, was
up 0.40 per cent at 94.038 in late trading.