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Oil off over 1% as OPEC deal doubts grow

Published 29/11/2016, 12:38
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Investing.com - Oil fell over 1% Tuesday as doubts about OPEC's ability to deliver a planned cut in output grew.
U.S. crude was down 82 cents, or 1.74%, at $46.26 a barrel at 06:45 ET, while Brentcrude shed 1.61% to $48.42.
OPEC experts ended talks Monday without any agreement on quotas for individual members in any curbs on production.
OPEC reached a tentative accord in Algiers in September to cut output to 32.5-33 million barrels a day.
The cartel is due to hold a formal meeting in Vienna on Wednesday.
The dollar Index steadied Tuesday above the 101 level. A stronger dollar undermines demand for oil.
The American Petroleum Institute (API) is due to release industry stockpile figures later in the session.

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