Oil prices were volatile but trading sharply lower Thursday ahead of an expected announcement from the OPEC oil cartel that it will extend recent production cuts for a further nine months. OPEC IN FOCUS: OPEC and other oil nations meeting Thursday appeared set to extend their production cuts in an effort to shore up prices. OIL PRICES: Oil prices were sharply lower but up from an earlier 3 percent slump. Analysts reckon oil prices will remain volatile through the day until the decision. The comments indicate policymakers are sticking to their plans to gradually remove the stimulus that has helped prop up stock markets for years.

Source: ABC News May 25, 2017 05:46 UTC