And Oil continues it's price slide.

08-Jun-2015

Oil prices are slipping on Monday after gushing up 2 per cent on Friday after Opec maintained its official production target, despite speculation prior to the cartel's latest meeting in Vienna that it might raise the official target to 31m barrels a day.

ICE Brent crude is down 0.57 per cent at $62.94 a barrel at publication time, while Nymex WTI Crude is 0.71 per cent lower at $58.72.

Brent jumped by 2 per cent on Friday despite Opec sending a clear signal to the market that it would keep production high to squeeze out other producers with higher costs - read: US shale producers. (FT Energy)

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