MONEY (MSM)

OPEC: Speculation Played Large Role in Drop in Oil Prices

Oil supply and demand don’t fully justify the 60 percent drop in prices between June and January as speculation also played a role, according to OPEC. A rise in supply from outside the Organization of Petroleum Exporting Countries at a time when demand for oil was weak was the main reason for the drop, OPEC said in its monthly bulletin on Monday. Brent oil, benchmark for more than half of