From Reuters:
Look for this to continue to depress crude future at the Merc.LONDON (Reuters) - OPEC's own oil price fell below $50 a barrel for the first time since the start of June on Thursday, touching a level that may trigger calls from some producers for the cartel to cut output.
The value of OPEC's basket of crudes fell to $49.73 a barrel on Wednesday, the group said on Thursday, down from $50.01 the previous day.A mild northern hemisphere autumn has wiped a fifth off the cost of oil since late August when hurricane damage to the U.S. industry sent prices to record highs.
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