Crude oil dropped as abundant crude supplies outweighed tighter U.S. fuel inventories and OPEC's plans to cut output.
OPEC reported that its oil production rose in September to its highest level in eight years and pointed to a larger surplus next year.
U.S. crude's structure gained support from the extended outage of a pipeline capable of delivering 450,000 barrels per day of crude into Cushing.
No comments:
Post a Comment