Oil slid on Wednesday

International benchmarks for oil prices inched lower on Wednesday (12 October) after report from the OPEC shoed discrepancies between the data from the oil cartel and information provided by individual member countries, causing widespread skeptical about how honest OPEC members. Besides, stronger US dollar has also contributed to the decrease.

WTI closed at $50.18/barrel (-$0.61) for November delivery

Brent closed at $51.81/barrel (-$0.60) for November delivery