
Oil prices struggle on doubts OPEC can rein in oversupply
Oil prices wallowed near their lowest levels in seven months early on Thursday, hurt by high global inventories and doubts over OPEC's ability to implement production cuts.
Brent crude futures were down 7 cents or 0.2 percent at $46.93 per barrel at 0053 GMT, after slumping nearly 4 percent in the previous session.
U.S. West Texas Intermediate (WTI) crude futures were down 12 cents or 0.3 percent at $44.61 per barrel.
Crude futures benchmarks are sitting near their lowest levels since late November last year when production cuts led by the Petroleum Exporting Countries (OPEC) were first announced. For More Information About Commodity Advisory Firm Please Visit : www.paceresearchindia.com and Call : 8817774774
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