Oil prices fell amid concerns about global demand and signs that OPEC will dither on supply cuts

Crude oil prices fell amid concerns about global demand and signs that OPEC will dither on supply cuts. Iraq and others are asking to be exempt from any arrangement requiring output quotas.The cartel met in Vienna this weekend to discuss the situation.

Meanwhile, the US oil rig count fell by two to 441 this week, according to oilfield services company Baker Hughes.

It was the first drop since the week of June 24.

According to rttnews, Azerbaijan, Brazil, Kazakhstan, Mexico, Oman and Russia gathered for consultation in the Austrian capital. The only solution of the gathering was to meet again in Vienna before the next OPEC summit, the official statement said.


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