Oil prices fall as US output hits record; global markets still tense
Updated : May 02, 2019 12:39 PM IST
Spot Brent crude oil futures were at $71.81 per barrel at 0655 GMT, 35 cents, or 0.5 percent, below their last close.
US West Texas Intermediate (WTI) crude futures were down 27 cents, or 0.4 percent, at $63.33 per barrel.
Despite the desire of many OPEC members to keep withholding supply to prop up the market, the group may be forced into action.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more