Oil falls on rising U.S. stockpiles, OPEC policy pause


SUBMITTED BY: mbza11

DATE: Dec. 2, 2015, 10:39 a.m.

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  1. Oil prices fell on Wednesday as a rise in U.S. inventories added to a deep global glut, while investors discounted any possibility of the Organization of the Petroleum Exporting Countries (OPEC) would do anything to cut production at this week's meeting. Brent crude was down 52 cents at $43.92 a barrel by 0926 GMT, falling for a fifth consecutive session. Oil production exceeds demand substantially and a growing global glut has sent prices tumbling by more than 60 percent since June 2014.

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