Oil slipped to one-week lows Monday, as several OPEC and non-OPEC ministers met to discuss a pact to curb oil output but the prospect of the group delivering deeper cuts grew more distant. Brent September crude futures fell 18 cents on the day to $47.88 a barrel by 0850 GMT. The price fell 2.5 percent on Friday after a consultancy forecast a rise in OPEC production for July. NYMEX crude for September delivery fell 20 cents to $45.57 a barrel. "Deeper production cuts have been ruled out, but on the agenda will be caps for exempted OPEC members Libya and Nigeria," PVM ...
Oil prices dip as prospect of deeper Opec output cut dims
NYMEX crude for September delivery fell 20 cents to $45.57 a barrel