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Oil dives nearly three percent after OPEC delays output decision

Reuters  |  NEW YORK 

By Devika Krishna KumarNEW YORK (Reuters) - Oil fell nearly 3 percent in choppy trading on Thursday after OPEC and its allies ended a meeting without announcing a decision to cut crude output, and prepared to debate the matter the next day.The Organisation of the Petroleum Exporting Countries met in Vienna to decide production policy in coordination with other countries including Russia, Oman and Kazakhstan.OPEC tentatively agreed to cut oil output but was waiting for a commitment from non-OPEC heavyweight Russia before deciding volumes. [nL8N1YB1II]Russian Energy Minister Alexander Novak ...

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First Published: Fri, December 07 2018. 03:31 IST
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