US crude slips towards $75 as rhetoric heats up before OPEC meeting

November 17:

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U.S. crude edged lower towards $75 a barrel in early Asian trade on Tuesday, as oil prices struggle to find a floor ahead of next week's critical OPEC meeting.

U.S. crude for December delivery was down 21 cents at $75.43 a barrel by 0056 GMT. The front-month contract settled 18 cents lower on Monday and has fallen 30 percent since late-June, when it reached a year-high of $107.73 a barrel.

Venezuela's President Nicolas Maduro said on Monday that a special global meeting was being planned "very soon" between OPEC and non-OPEC nations to discuss global oil prices.

Foreign Minister Rafael Ramirez of the cash-strapped OPEC member also said the oil cartel will increase coordination in the face of the fall in oil prices.

Source:  www.cnbc.com/id/102193052?