Oil falls on OPEC’s deal to raise output, but markets to remain tight
Brent crude oil prices fell over 1.5 percent on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday. U.S. West Texas Intermediate (WTI) crude futures (CLc1) were at $68.42 a barrel, down 0.2 percent, supported more than Brent by a slight drop in U.S. drilling activity and a Canadian supply outage. Prices initially jumped after the OPEC deal was announced late last week as it was not seen boosting supply by as much as some had expected.
Source:: https://finance.yahoo.com/news/brent-oil-prices-drop-2-005133013.html
