OPEC Blames Speculators For Big Drop In Oil Prices

MarketWatch Pulse

The Organization of the Petroleum Exporting Countries on Friday accused speculators of playing a main role in the plunge that's taken oil prices to a nearly four-year low. In its bi-monthly bulletin, the oil cartel said that according to its secretariat, "the actions of speculators are again behind much of the price decline." The griping comes as oil on Friday extended its slide, with Brent crude dropping to its lowest level since December 2010 and Nymex WTI crude falling to its lowest level since June 2012.

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