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Brent drops by 2 percent as traders expect output rise after OPEC deal [CNBC]

Barclays (BCS)  More Company Research Source: CNBC
PDF Global benchmark Brent fell by more than 2 percent in early trade on Monday. That followed an expected output increase that was agreed at OPEC's headquarters in Vienna on Friday. Brent futures were down 2.2 percent at $73.9 at 0035 GMT, from their last close. Published 34 Mins Ago Reuters Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday. Brent crude futures , the international benchmark for oil prices, were at $73.90 per barrel at 0035 GMT, down 2.2 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $68.36 a barrel, down 0.3 percent, supported by a slight drop in U.S. drilling activity. Prices initially jumped after the deal was announced as it was not seen boosting supply by as much as some had exp [Read more]

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