Oil subdued as rising U.S. output undermines OPEC effort to cut supply
Oil markets were subdued on Monday, with Brent struggling to maintain $50 per barrel as efforts led by OPEC to tighten the market were undermined by persistently rising U.S. production. Brent crude oil futures (CLc1) briefly rose above $50 per barrel in early trading, but had dipped back to $49.94 by 0040 GMT. U.S. West Texas Intermediate futures (CLc1) were at $47.69 a barrel, weighed down by ongoing climbs in U.S. production.
Source:: https://finance.yahoo.com/news/oil-subdued-rising-u-output-005723456.html
