Following a brief surge, crude prices slumped again on Thursday, while OPEC and major producers led by Russia are still discussing a new output cut deal, expected to be a record one.
The prices surged by some 12 percent on reports that Russia and Saudi Arabia managed to agree on new production cuts.
The growth, however, was short lived and the prices fell back some ten percent later in the day, as it emerged that no agreement between the Organization of the Petroleum Exporting Countries (OPEC) and non-cartel countries has been achieved.
