Oil Prices Drop as Supply Fears Ease After OPEC Rejects Iran Embargo and U.S. Eases Venezuela Sanctions

Oil prices fell after OPEC showed no support for Iran's call for Israel embargo

Prices dropped as U.S. plans to ease Venezuela sanctions to allow more global oil flow

Concerns eased over potential supply disruptions from Iran's embargo call

U.S. issued license to allow Venezuela oil transactions after political deal reached

Russia's November oil exports via western ports seen falling due to domestic refinery maintenance ending