IPE Brent crude futures slipped lower Tuesday, correcting strong gains made on attacks over the weekend on Nigerian oil industry sites.
 

Algerian oil minister Chakib Khelil said over the weekend that OPEC ministers meeting in Vienna in two weeks are likely to keep production unchanged at 28-mil b/d unless there is a dramatic fall in oil prices.Khelil said although commercial stocks were increasing and the uncertainties that had propped up prices were disappearing, oil prices were still relatively high.
 

Iranian and Russian officials ended talks Monday on a Russian plan to resolve Iran's nuclear standoff without agreement, but promised to keep negotiating in a bid to defuse the growing international crisis. Russia has offered to set up a joint enterprise with Iran to enrich uranium on Russian territory, giving Iran the material it needs for a nuclear energy program but denying it the technology for a nuclear bomb.

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