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Oil posted its biggest weekly loss in almost 10 months, falling 11 percent over six sessions. Prices dropped after doubts grew that OPEC could implement its promised production cut, and after a Reuters report that Saudi Arabia had threatened to raise output.
Losses eased after OPEC's Secretary-General said the kingdom had not made that threat.
Doubts about OPEC's ability to cut output point to continued oversupply, which weighs on crude prices and the energy-linked costs that support biofuel demand for feedstocks.
bloomberg.comMark ShenkNov 3, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
