Advertisement
New Zealand markets closed
  • NZX 50

    11,836.04
    -39.31 (-0.33%)
     
  • NZD/USD

    0.5929
    +0.0010 (+0.17%)
     
  • ALL ORDS

    7,898.90
    +37.90 (+0.48%)
     
  • OIL

    82.27
    -0.42 (-0.51%)
     
  • GOLD

    2,391.40
    +3.00 (+0.13%)
     

U.S. Oil Export Surge Means OPEC's Output Cuts May Be Doomed

U.S. Oil Export Surge Means OPEC's Output Cuts May Be Doomed

Oil risks sliding back under $60 a barrel as a surge in U.S. shipments to Asia threatens to undermine a deal between OPEC and its allies, according to ING Groep NV.