Oil slides as Russia touts easing Opec+ output
NEW YORK: Oil prices fell on Monday as Russia said an OPEC-led producer group may consider easing output cuts next year, offsetting support from some investor optimism that an initial U.S.-China trade deal would be signed soon.
Brent crude was down 21 cents, or 0.3%, at $65.96 per barrel by 10:32 a.m. ET (1532 GMT) in thin trading ahead of the Christmas holiday. West Texas Intermediate was down 21 cents, or 0.4%, at $60.23 a barrel.
The Organization of the Petroleum Exporting Countries and other top producing nations led by Russia agreed this month to extend and deepen output cuts in the first quarter of 2020.
