Oil prices slip as Angola decides to exit Opec

Brent crude futures settled down 31 cents at US$79.39 a barrel. US West Texas Intermediate crude futures fell 33 cents to US$73.89 a barrel.

NEW YORK: Oil prices settled lower on Thursday after Angola said it would exit the Organisation of the Petroleum Exporting Countries (Opec), raising questions about the producer group's efforts to support prices by limiting global supplies.

Brent crude futures settled down 31 cents at US$79.39 a barrel. US West Texas Intermediate crude futures fell 33 cents to US$73.89 a barrel.