Oil prices ease on doubts about Opec production cuts

Friday, 30 September 2016 - 6:59

Oil+prices+ease+on+doubts+about+Opec+production+cuts

The price of oil slipped back in Thursday trading as traders questioned whether the output cut agreed by Opec would be binding.

Prices had jumped by 6% on Wednesday's news that Opec had voted for the first production cut in eight years.

Oil ministers said full details of the agreement would be finalised at a formal Opec meeting in November.