Oil Slips on Signs of Returning Saudi Output as Doubts Linger - Bloomberg:
Oil edged lower on signs Saudi Arabia is making progress in restoring lost output even as uncertainty remains about the kingdom’s ability to meet its timeline of a full return by the end of the month.
Futures dropped 0.6% in New York after rising 1% on Monday. Saudi Aramco is returning most of its domestic oil refineries to full capacity after cutting back on processing to meet the crude demands of customers, according to people familiar with the matter. U.S. stockpiles probably declined by 600,000 barrels last week, a Bloomberg survey showed.
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