Reported 11 days ago
Oil prices dropped more than 2% after reports indicated that Saudi Arabia plans to ease production cuts starting December 1, even if it means lower prices. This decision comes as the country looks to regain market share, abandoning its previous unofficial price target of $100 per barrel. Following the announcement, West Texas Intermediate crude fell below $68 per barrel, while Brent crude hovered around $71 per barrel.
Source: YAHOO