Oil prices inch down as OPEC and allies seek consensus on output

Topics Oil Prices | OPEC | oil and gas


By Shadia Nasralla LONDON (Reuters) - Oil prices inched down on Tuesday as investors awaited direction from OPEC and its allies after the producers postponed a formal meeting to decide whether to lift output from January. Brent crude was down 19 cents at $47.

69 a barrel by 1430 GMT and West Texas Intermediate was down 36 cents at $44.98. Both contracts have surged around 27% in November, pushed up by hopes that COVID-19 vaccines would boost the global economy and fuel demand, and aided by expectations that oil producers would.....

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