Crude Falls as OPEC Meeting Overshadows Inventory Drop in U.S.

Crude oil fell the most in a week after Iran told fellow OPEC members they should anticipate more supply from the Middle East nation once sanctions are lifted.

OPEC won’t cut its production ceiling when it meets in Vienna on June 5, Al-Hayat, a London-based Saudi newspaper, reported Wednesday, citing an unidentified group official. OPEC’s expected decision overshadowed a decline in U.S. crude inventories to a two-month low.