Oil hits six-week low as Opec fails to curb oversupply

Oil prices dropped to six-week lows on Thursday, under pressure from high global inventories and doubts about OPEC's ability to implement agreed production cuts. Brent crude oil fell 30 cents to $46.70 a barrel, its weakest since May 5 and just above six-month lows, before recovering a little to trade around $46.

90 by 0945 GMT. US light crude was down15 cents at $44.58, also not far off six-month lows. Both crude benchmarks have lost all the gains made at the end of last year after the Organization of the Petroleum Exporting.....

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