UPDATE 1-Some fund managers see oil falling to $60 without OPEC cut

lunes 24 de noviembre de 2014 09:27 GYT
 

* Cut of 500,000 bpd may not be enough to halt price fall

* However a big cut could see prices rebound above $85 per barrel

* OPEC meeting Nov. 27 in Vienna (Adds details, comments)

By Claire Milhench

LONDON, Nov 24 (Reuters) - Some commodity fund managers believe oil prices could slide to $60 per barrel if OPEC does not agree a significant output cut when it meets in Vienna this week.

Brent crude futures have fallen by a third since June, touching a four-year low of $76.76 a barrel on Nov. 14.

They could tumble further if OPEC does not agree to cut at least one million barrels per day (bpd), according to some commodity fund managers' forecasts.

"The market would question the credibility of OPEC and its influence on global oil markets if there was no cut," said Daniel Bathe, of Lupus Alpha Commodity Invest Fund.

That could send Brent down to around $60, Bathe said.   Continuación...