Oil prices fell on Thursday as OPEC warned of slowing demand and Russia hinted that there might only be a loose agreement with little commitments at the upcoming exporter meeting to rein in ballooning oversupply.
Meanwhile, Goldman Sachs said that productivity gains by U.S. shale producers were keeping alive its “deflationary outlook” for oil prices as drillers manage to adjust to lower prices, and with confidence in the recent price rally fading, traders have positioned themselves for further price falls.
