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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Prices Ease on OPEC+ Output Cut

OPEC Oil United States ING West Texas
A rig contracted by Apache Corp drills a horizontal well in a search for oil and natural gas in the Wolfcamp shale located in the Permian Basin in West Texas October 29, 2013. (Reuters)

Oil prices inched lower on Tuesday, paring gains from the previous session, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to bolster prices after the market's recent slide.

Brent crude futures had fallen 81 cents, or 0.9%, to $94.93 a barrel by 0354 GMT.

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