Oil Prices Hit Year Low as OPEC Considers Output Cut

Credit: Gerhard Trasch├╝tz

(From Reuters)

Oil prices fell to their lowest in a year on Friday, on course for their biggest one-month decline since late 2014, even as oil producers consider cutting production to try to stem a rising global surplus.

Oil supply, led by the United States, is growing more quickly than demand and to ward off a build-up of unused fuel such as the one that emerged in 2015, the Organization of the Petroleum Exporting Countries is expected to start withholding output after a meeting planned for Dec. 6.

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