Oil tumbles 5 percent after OPEC hints at smaller output cut
Updated : December 06, 2018 04:46 PM IST
The Organisation of the Petroleum Exporting Countries (OPEC) is meeting in Vienna to decide its production policy in coordination with non-OPEC producers including Russia, Oman and Kazakhstan.
Brent crude futures fell $2.72 on the day to $58.84 a barrel by 1043 GMT, having hit a session low of $58.36, while US futures were last down $2.32 at $50.57 a barrel.
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