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Corrected: Oil prices dip on further rise in U.S. drilling, demand slowdown

Reuters 

(Corrects OPEC and non-OPEC output cut to 1.8 million barrels from 1.2 million bpd in fifth paragraph, fixes syntax in Falih quotes in third and fourth paragraphs)By Henning GloysteinSINGAPORE (Reuters) - Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production to tighten the market. Signs of faltering demand have also prompted weakening sentiment, dropping prices to levels comparable to when the output cuts were first announced late last year. Brent crude futures ...

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First Published: Mon, June 19 2017. 13:11 IST
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