Talks between Opec and its allies have fallen apart as pandemic fears also weigh on prices
London — Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers that could potentially cause the current output agreement to be abandoned.
“This suggests that no immediate flooding of the market is anticipated,” PVM analysts said in a note. The group is maintaining nearly 6-million barrels per day of output cuts and was expected to add to supply, but three days of meetings failed to close divisions between the Saudis and the Emiratis.
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