Economic news

Oil prices move toward second weekly loss

Oil futures declined more than one percent on Friday after the International Energy Agency said OPEC's compliance with the cuts in July had dropped to 75 percent, the lowest since the agreement has come into effect.

Brent for October delivery was 0.9 percent lower at $51.42 per barrel. On the New York Mercantile Exchange, WTI fell 1 percent, to $48.11 per barrel.

According to fresh data, OPEC's July output increased 0.5% from June to 32.9 million barrels a day.

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree