Oil dives 5 percent; OPEC looks unlikely to deepen output cuts

May 4, 2017 by  
Filed under News

NEW YORK (Reuters) – Oil prices tumbled about 5 percent on Thursday, breaking below $50 a barrel to the lowest since late November on signs that OPEC and other producing countries would not take more drastic steps to reduce the world’s stubbornly persistent glut of crude.

Source: Reuters Business News

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