You are here: Home » Reuters » News
Business Standard

Oil prices fall after U.S. drillers add rigs

Reuters  |  TOKYO 

By Aaron SheldrickTOKYO (Reuters) - Oil fell on Monday after U.S. shale drillers added more rigs last week, but prices still held close to their highest since mid-2015, supported by an extension of output cuts agreed to 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 up to 749, highest since September, energy services firm Baker Hughes said in its closely followed report late on Friday. U.S. West Texas Intermediate was down 46 cents, or 0.8 percent, at $57.90 a barrel at 0750 GMT. Brent futures were down ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, December 04 2017. 13:31 IST