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Oil falls to 7-month low over OPEC cuts, set for worst H1 since 1997

This year, oil faced the largest price slide in first half of any year for past two decades

Reuters  |  London 

Oil fell to seven-month lows on Wednesday, set for its largest price slide in the first half of any year for the past two decades, as investors discounted evidence of strong compliance by OPEC and non-OPEC producers with a deal to cut global output. August Brent crude futures were down 12 cents at $45.85 a barrel by 0838 GMT, after falling nearly 2 per cent in the previous session to their lowest settlement since November. US crude futures for August were down 7 cents at $43.44, having hit their lowest since September on Tuesday. So far this year, oil has lost 20 per cent in ...

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First Published: Wed, June 21 2017. 15:49 IST