Oil Falls 4% on OPEC Uncertainty

On Friday, Nov 25 U.S. oil prices fell $1.90 to $46.06 per barrels. The decline is a response to the market’s uncertainty over OPEC negations. Saudi Arabia announced that they would not attend scheduled talks on Nov 28 with non-OPEC producers to discuss supply cuts. Russia planned to attend the talks with non-OPEC producers, but Saudi Arabia’s pull out send the market is a steep decline.