(VOVWORLD) - Oil prices slipped from multi-month highs on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, could not decide on whether or not to increase output in February.
OPEC+ met again on Tuesday. Brent futures fell 50 cents to 51.3 USD per barrel, while US West Texas Intermediate (WTI) settled 90 cents lower at 47.6 USD per barrel.
The OPEC+ Ministerial Meeting took place amid an oil price war between Russia and Saudi Arabia and the sharp decline in oil prices due to COVID-19.