BLBG: Oil Rebounds as Saudi Tanker Hijacked, OPEC Mulls More Meetings
By Gavin Evans and Grant Smith
Nov. 17 (Bloomberg) -- Oil rebounded to trade little changed after a tanker owned by Saudi Aramco was hijacked by pirates and an OPEC report broached the need for more frequent meetings.
Crude oil for December delivery traded at $56.77 a barrel, down cents, on the New York Mercantile Exchange as of 1:04 p.m. London time. The contract earlier dropped as much as $1.75, or 3.1 percent, to $55.29 a barrel.
To contact the reporters on this story: Grant Smith in London at gsmith52@bloomberg.net; Gavin Evans in Wellington at gavinevans@bloomberg.net.
