Crude oil futures decline amid fading OPEC hopes

Posted on at - Oil prices spent most of Tuesday in negative territory, amid concern the Organization of the Petroleum Exporting Countries will not cut output to ease a glut.

Crude oil futures decline amid fading OPEC hopesCrude oil slumps as OPEC supply cut hopes wane

On the ICE Futures Exchange in London, Brent oil for January delivery shed 24 cents, or 0.31%, to trade at $79.44 a barrel during European morning hours.

A day earlier, Brent lost 68 cents, or 0.85% to settle at $79.68 a barrel. Brent futures fell to a four-year low of $76.76 a barrel on November 14.

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