Skip to content
RAC reacts to Opec's decision to continue pumping near-record volumes of oil

News -

RAC reacts to Opec's decision to continue pumping near-record volumes of oil

RAC Fuel Watch spokesman Simon Williams said: “There was a good deal of trepidation regarding the meeting of the OPEC nations today and the market reacted with some volatility pushing the oil price up as traders expected they may cut production.

"However, after the meeting concluded at 3pm with no cuts planned the market settled and the oil price dropped back down ending slightly lower than yesterday’s barrel price at $41.50 for Brent crude.

"We therefore expect the trend to continue and anticipate that we are likely to see a further fuel price cut of two pence a litre for fuel in the next fortnight.”

Topics

Categories

Contacts

Press office team

Press office team

Press contact For journalist enquiries only Emails monitored during normal office hours We're unable to help with member enquiries - instead please tap here or call 0330 159 0740

Related content

News, comment, data and research from the UK's longest-serving driving services organisation

The RAC Media Centre is home to all our content for journalists and news outlets: press releases and comments, as well as the latest driving and motoring-related data and research