 Oil tumbled $2 on Tuesday to below $60 a barrel, sinking to the lowest level since February and prompting OPEC's president to call on the exporter group to deepen supply cuts. | “We believe that the market is slightly oversupplied," OPEC President Edmund Daukoru told Reuters...” |
Prices fell for a second day, pressured by ample fuel stockpiles in top consumer the United States and no public evidence of other OPEC members joining Nigeria and Venezuela in cutting output. "We believe that the market is slightly oversupplied," OPEC President Edmund Daukoru, who is also Nigeria's top oil official, told Reuters.
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