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Friday, 13 January 2017

Oil prices dip on doubts over planned crude output cuts | Reuters

Oil prices dip on doubts over planned crude output cuts | Reuters:

"Oil dipped on lingering doubts that crude production cuts would go deep enough to curb a global fuel supply glut, with sentiment worsened by concerns over the health of the Chinese economy after it reported the steepest falls in exports since 2009.

Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $55.87 per barrel at 0816 GMT (3.16 a.m. ET) on Friday, down 14 cents from their last close.

U.S. West Texas Intermediate (WTI) CLc1 crude futures were down 9 cents at $52.92 per barrel."



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