Crude Weakens Ahead Of OPEC Meet, EU Crisis Weighs

Published on Thursday, 14 Jun 09:39 am

Crude futures weakened in early trade on Wednesday, ahead of the OPEC ministerial meeting and as uncertainty over Europe’s ability to tackle its debt crisis continued to stoke fears of a slowdown in oil demand growth. Investors are to see if there is any change in OPEC production capacity. US crude slipped 31 cents to $83.01/B. The contract settled 62 cents higher after falling to an 8-month low in the previous session. Brent fell 13 cents to $97.01/B.

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