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Oil falls after U.S. drilling picks up

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil fell on Monday after U.S. shale drillers last week added more rigs but prices still held close to their highest since mid-2015, supported by an extension to output cuts agreed last week by OPEC and other producers. Drillers in the United States added two oil rigs in the week to Dec. 1, bringing the total count to 749, the highest since September, energy services company Baker Hughes said in its closely followed report late on Friday. February Brent crude futures were down 62 cents at $63.11 a barrel by 1230 GMT, while U.S. West Texas Intermediate was ...

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First Published: Mon, December 04 2017. 18:25 IST