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Oil sinks as OPEC mulls Iran supply cut exemption, tries to get Russia on board

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.International Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel at 0750 GMT, down 53 cents, or 0.9 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $51.05 per barrel, down 44 cents, or 0.9 percent.The declines came after crude slumped by almost 3 percent the previous day, with the Organisation of the Petroleum ...

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First Published: Fri, December 07 2018. 13:25 IST