LONDON: Oil prices slid more than 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices.
Brent and WTI crude futures tumbled by nearly $3 a barrel, or more than 5%, after the report.
By 1153 GMT Brent crude was down $2.06, or 4.1%, at $47.93 a barrel. U.S. West Texas Intermediate (WTI) was down $1.94, or 4.2%, at $43.96.
