* Saudi Arabia to reduce December sales, calls for wider cuts
* WTI rises as much as 1.8% after entering bear market last week
By Alex Longley and Tsuyoshi Inajima
(Bloomberg) —
Oil climbed after a record run of losses as Saudi Arabia said OPEC and its allies should rein in output, with the kingdom itself reducing shipments by about 500,000 barrels a day.
* Ministers will meet Sunday to discuss possible curbs in 2019
* WTI crude trades little changed at $61.63 a barrel in New York
* U.S. crude inventories rose for a sixth week: government data
* WTI futures slide as much as 1%, after an 11% drop last month
By Grant Smith and Tsuyoshi Inajima
(Bloomberg) —
Oil fell to the lowest in more than two months on signs of surging U.S. supply and speculation that American sanctions against Iran won’t succeed in reducing exports to zero.
Oil Slips Amid Fears New U.S.-China Tariffs Could Hurt Demand
* Additional U.S. tariffs could come on top of $250b imposed
* WTI trades near $67 a barrel, after a 0.8% decline on Monday
By Heesu Lee and Grant Smith
(Bloomberg) —
Oil slipped on concern that an escalating trade dispute between the U.S. and China will dampen global growth at a time when American crude inventories are growing.
* Global macroeconomic tumult spurs tumbling crude prices
* Move comes as OPEC and allies boost supply and margins narrow
By Alex Longley and Javier Blas
(Bloomberg) —
Just weeks after oil traders were touting $100 a barrel, those predictions now seem a distant memory.
