Oil dips in Asia as Algiers meeting loomsOil prices edged down in Asia Tuesday amid continued speculation over whether producers will agree to limit output at talks in Algeria this week, analysts said. MB FILE – Doves sit on an oil pump at sunset in the desert oil fields of Sakhir, Bahrain, Sunday, Dec. 13, 2015. Trading has been thin so what we’re seeing is mostly early-morning profit taking in Asia,” OANDA senior market analyst Jeffrey Halley told AFP. “The last meeting in Doha in April was a complete non-event and key figures have down-played the chances of the (Algeria) meeting procuring a clear outcome,” he added. Crude prices have been battered since late 2014 by supply that has far outweighed demand, with prices hitting 13-year lows earlier this year.

Source: Manila Bulletin September 27, 2016 04:52 UTC