Oil fall as opec analysis meet on planned output reduces

Mcx Oil was down Friday as traders weighed gain the chances of a planned output reduce by OPEC. U.S. crude was fall 23 cents, or 0.46 Percent, at $49.49 at 07:00 ET as Brent crude shed 0.26 Percent to $50.34.

OPEC Anlysis Friday gathered in Vienna for talks on the projected production reduce to 32.5-33 million barrels a day. OPEC is due to hold a formal meeting on November 30 in Vienna to seal a deal to address a global supply glut.

Iraq and Iran have showed they don't want to reduce output, while non-OPEC member Russia is leaning toward a production freeze.

Baker Hughes U.S. rig count figures for the latest week are due for publish later in the session.
The number of rigs presently operating in the U.S. stands at 443, the maximum range since early February.

The dollar was firm at upper ranges. A stronger dollar undermines demand for oil. Open Commodity Trading Account free trading tips.

Trading Symbol	Pivot Point	R1	R2	R3	S1	S2	S3
GOLD	29875	29920	30006	30051	29789	29744	29658
SILVER	42154	42282	42448	42576	41988	41860	41694
CRUDEOIL	3314	3340	3384	3410	3270	3244	3200
NATURALGAS	202.7	206	211.2	214.4	197.4	194.2	189
NICKEL	682.8	690.4	699.6	707.2	673.6	666	656.8
ALUMINI	112.3	113.2	114.32	115.18	111.18	110.32	109.18
LEAD	137.2	138.6	139.58	140.97	136.17	134.78	133.77
ZINC	156.6	157.45	158.6	159.45	155.45	154.6	153.45
COPPER	318.7	321.07	323.78	326.17	315.97	313.58	310.87