Oil slides as rising OPEC output outweighs U.S. decline
Oil prices eased on Monday after rising for seven sessions in a row, as evidence of increasing OPEC crude production snuffed out earlier gains made on the back of data that pointed to moderating U.S. output. U.S. crude futures (CLc1) fell 4 cents to $46.00 a barrel. The drop in U.S. rig count and U.S. Energy Information Administration figures showing output fell by 24,000 barrels per day (bpd) on a monthly basis “sent out a short-term bullish message,” he said.
Source:: https://finance.yahoo.com/news/oil-prices-edge-first-drop-014029765.html
