Oil prices edge down ahead of OPEC, non-OPEC production cuts
14:55, 28 December 2016
BAKU. KAZINFORM Oil prices edged down on Wednesday in quiet early Asian trading as the market waits to see how OPEC and non-OPEC members carry through on planned supply cuts in the new year, Reuters reported, Kazinform refers to Trend.
U.S. benchmark West Texas Intermediate (WTI) CLc1 crude futures were down 13 cents at $53.77 at 0021 GMT after settling up 88 cents at $53.9 a barrel in the previous session. WTI prices have risen 25 percent since mid-November.
International Brent crude oil futures LCOc1 were yet to trade after closing 93 cents higher at $56.09.
Trading is expected to remain thin this week ahead of the New Year holiday season.
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