Crude oil futures lost value Friday after OPEC uncertainty to finalize plans for supply cuts that would help stabilize energy markets, rttnews says.
“We remain deeply optimistic about the possibility that the Algiers agreement will be complemented by precise, decisive action among all producers,” said the commentary section of the cartel’s monthly magazine, “OPEC Bulletin.”
Certain cartel members such as Iran and Iraq have reportedly asked they be exempt from any quotas.
Brent was down to 45$ a barrel after the U.S. jobs report.
Oil fell sharply earlier in the week when the U.S. government said oil inventories skyrocketed by a whopping 14 million barrels.
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