OPEC and its allies will consider whether to deepen cuts to crude supply when they next meet in December due to worries about weak demand growth in 2020, sources from the oil-producing club said.
NEW YORK: Oil fell more than $1 a barrel on Tuesday on concerns about excess global crude supply and limited progress toward resolving the U.S.-China trade dispute that has clouded the outlook for oil demand.
Brent crude futures fell $1.53, or 2.5%, to settle at $60.91 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost $1.84, or 3.2%, to settle at $55.21 a barrel.
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