Retreat of Crude Oil Prices Continued as Russia Refused to Cap Output

Energy prices declined as investors increasingly worried about output cut/freeze promised by OPEC and Russia might not materialize. It was discovered that production data published by OPEC and individual member countries diverged, raising concerns over the integrity of the organization. Meanwhile, Igor Sechin, head of Russia's state-controlled energy company Rosneft suggested that he would not cap production...

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/retreat-of-crude-oil-prices-continued-as-russia-refused-to-cap-output-2016101333705/