Oil falls over 2% as investors sceptical of Opec+ cuts

Brent crude futures for February settled down US$1.98, or 2.45%, at US$78.88 a barrel. US West Texas Intermediate crude futures (WTI) dropped US$1.89, or 2.49%, to US$74.07 a barrel.

NEW YORK: Oil prices slumped more than 2% on Friday on investor skepticism about the depth of Opec+ supply cuts and concern about sluggish global manufacturing activity.

Brent crude futures for February settled down US$1.98, or 2.45%, at US$78.88 a barrel.