Oil slips as Saudis says Opec deal still unresolved

Oil slips as Saudis says Opec deal still unresolved:

Oil retreated after the biggest two-day gain since June as investors grapple with doubts over whether the Organisation of Petroleum Exporting Countries (Opec) and its allies will curb production.

Futures slipped as much as 2.1 per cent in New York, paring gains of 4.6 per cent in the previous two sessions. Saudi Energy Minister Khalid Al Falih said it’s “premature” to say whether the producer group will agree on efforts to stabilise the oversupplied market and walked back recent statements about the size of any supply reduction.

Meanwhile, industry data signalled crude stockpiles in America expanded last week.