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9/12, 3:07 PM (Source: TeleTrader)
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Oil slumps further as OPEC+ calls for output compliance

Oil traded deeply in the red on Thursday following a meeting of OPEC+ during which the organization called on Nigeria, Iraq and Russia to keep their production within the set quotas. In a statement following the meeting, the organization said that the compliance reached was 136%, while non-compliant countries have pledged to achieve 100%.

West Texas Intermediate for October delivery slid 2.29% at 3:03 pm CET, going for $54.69 per barrel, while Brent for delivery in November declined 2.62%, changing hands for $59.40 a barrel, a minute later.

Breaking the News / GG