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Oil sweeps lower as fears of recession dent financial markets

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil prices fell on Wednesday, swept lower by a broad decline across financial markets, as concern about the outlook for global growth and evidence of yet more crude supply wiped out half of this week's gains. The Organisation of the Petroleum Exporting Countries (OPEC), with partner countries such as Russia, meets on Thursday to discuss a potential cut in crude output. In the face of a growing supply overhang, it will be keen to avert the kind of build-up in global oil inventories that sent prices on a 19-month long decline starting in late 2014.After ...

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First Published: Wed, December 05 2018. 16:35 IST