OIL PRICE FALLS AHEAD OF OPEC MEETING (STA BREAKING NEWS and ARCHIVES)

by STANews , Wednesday, November 26, 2014, 19:45

The price of oil has fallen as Opec oil producers prepare for their meeting on Thursday and data showed crude stocks rose last week.

Inventories of commercial US crude oil increased by 1.9 million barrels from the previous week, according to the US Energy Information Administration.

Brent crude future's price slid 0.8 to $77.75 a barrel after the data.

The drop came as Saudi Arabia indicated it would not push for output cuts to help push up oil prices.

US crude finished Wednesday's business down 40 cents at $73.69 a barrel.

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http://www.bbc.com/news/business-30211564