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13.11.2014 11:15

Oil: Prices further decline to new lows

Oil prices declined again in today's session with Brent Crude trading -1.12% at USD79.48 a barrel at new four-year lows and WTI Crude losing -0.49% trading at USD76.80 as the OPEC still resists to cut production and reduced export prices to the U.S. A weakening global demand has weighed over oil prices for the last months.

The OPEC with its 12 member countries responsible for 40% of world's oil production is scheduled to meet in Vienna on November 27 to discuss 2015 production target.

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