NEW YORK - Oil prices in New York stabilized Tuesday, but European crude sank again after a Kuwait official said OPEC would not take emergency actions to stop prices from falling
Oil prices have fallen sharply following a decision by the Organization of the Petroleum Exporting Countries last month against cutting production
The drop in Brent followed remarks from Kuwait oil minister Ali al-Omair that offered little hope for a shift in strategy from Middle East Producers who have tacitly supported lower prices.