ICE Brent settles below $50/b as OPEC meeting begins

摘要

New York—ICE December Brent settled down 76 cents at $49.71/b Friday as support from a potential OPEC freeze deal continues to evaporate. NYMEX December crude settled down $1.02 at $48.70/b. The NYMEX contract ended lower on the week for the first time since mid-September. An OPEC technical meeting was underway Friday in Vienna to try and iron out some of the terms of that agreement, which would cap the bloc’s production at between 32.5 million b/d and 33 million b/d. The oil producer group is facing a selfimposed November 30 deadline to finalize the supply agreement.