Oil prices slip, slow progress in trade talks counters OPEC cuts

Oil prices fell on Monday as an uptick in U.S. drilling and concerns about demand due to the slow progress in U.S.-Chinese trade talks overshadowed support from OPEC-led supply restraint.

“Oil prices are still trying to figure out what lead to follow. On the one hand, there is the OPEC+ cut story, now coupled with increasing issues around Venezuelan supply”, Vienna-based consultancy JBC Energy said.
more at source: https://www.reuters.com/article/us-global-oil/oil-prices-steady-opec-cuts-countered-by-slow-progress-in-trade-talks-idUSKCN1Q0013

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