Data on Libya output, Iran causes investors to ask whether OPEC’s agreed production cuts will be fully implemented
Crude oil: $51.96 per barrel, Natural gas: $3.103 /MMBtu, Gold: $1183.5 per troy oz
Oil prices flipped to losses Tuesday with investors still questioning the impact of an OPEC deal to cut production that had originally sent prices to 18-month highs.
The Wall Street Journal reported early Tuesday that Libya, exempted from production cuts, had more than tripled its crude output in the past six months. Data in recent days also showed growing exports from Iran and Iraq, which has made investors nervous that a plan from….read more
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