The price of oil continued its downturn today ahead of the next Organization of Petroleum Exporting Countries meeting, scheduled for November 29.
Opec will convene in Cairo tomorrow, in what is being described as a “consultative session” amid reports that the oil cartel will cut product in order to increase the price.
Oil has slumped in recent months, having soared to an all-time high of $147.27 a barrel in New York on July 11 as demand falls around the world and economic reports show a deepening recession in the US,...