Oil prices continue steep slide

By Dow Jones newswires

The OPEC basket, which fell to $US99. 94 a barrel Friday, is calculated from reporting selling prices of oil from Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. "We… feel that the approach of the $US100 mark in Brent will be closely followed by some statements out of Saudi Arabia regarding [plans] to cut production," energy advisory firm Ritterbusch & Associates said in a note Monday afternoon.

Read more here: Business Spectator

    

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