By TIMOTHY PUKO and GEORGI KANTCHEV: Feb. 8, 2016
Oil prices dropped back below $30 Monday amid continuing fears about the global oversupply of crude. A Sunday meeting between Saudi Arabia and Venezuela ended without any plans for production cuts, damaging hopes that the world’s major exporters will cooperate on output cuts. Data from Barclays also suggested softer demand from the world’s largest consumers, the U.S. and China.
—Biman Mukherji contributed to this article.
Write to Timothy Puko at [email protected] and Georgi Kantchev at [email protected]
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
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