Oil dropped by 4 percent on Tuesday as leading oil experts from the Organization of the Petroleum Exporting Countries had trouble agreeing on a deal to cut production to reduce global oversupply and raise prices.
This occurred as Iran and Iraq were quarreling with Saudi Arabia a day ahead of meeting.
Declines put both global benchmarks on track to drop for a second month in a row. U.S.
crude was down around 3 percent and Brent down almost 4 percent..