Futures Movers: Oil slips back toward $50 ahead of looming G-20, OPEC production talks [MarketWatch]
CME Group Inc. - Class A (CME)
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Source: MarketWatch
Oil slips back toward $50 ahead of looming G-20, OPEC production talks Oil prices fell Friday, flirting with a revisit of $50 a barrel, after bouncing Thursday on reports that Russian officials are signaling a likely output cut in tandem with other major producers. Trading action was somewhat held in check ahead of weekend meetings of the Group of 20 global leadership in Argentina, where oil talks can take place on the sidelines ahead of an official meeting Dec. 6 between the Organization of Petroleum Exporting Countries and its allies. Early Friday, West Texas Intermediate crude for January delivery CLF9, -1.85% on the New York Mercantile Exchange fell 87 cents, or 1.7%, at $50.58 a barrel. The January contract was headed for a 0.1% weekly gain, but an over 23% plunge for November. Futures finished higher on Thursday, after an early slide that day pulled the U.S. crude benchmark below $50 a barrel for the first time since October 2017. Brent crude, the global benchmark, also fell
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