Business this week

Oil prices continued to slide, following a plunge of 8% in Brent crude on November 27th in reaction to the decision by OPEC to maintain production at 30m barrels a day. Brent was trading around $70 a barrel on December 3rd. Some OPEC member countries face a squeeze in their public finances and had pleaded for a cut in output in order to lift oil prices. But that was resisted by Saudi Arabia, which does not want to lose market share. See article