You are here: Home » Reuters » News
Business Standard

Oil steadies as Middle East tensions offset rising U.S. output

Reuters  |  NEW YORK 

By Scott DiSavinoNEW YORK (Reuters) - Oil prices were little changed on Wednesday as rising political tensions in the Middle East offset U.S. government data showing an increase in domestic crude production and a surprise build in stockpiles.U.S. crude production rose to 9.6 million barrels per day during the week of Nov. 3, the most in a week on record according to the Energy Information Administration (EIA) data going back to 1983. [EIA/S]"The most notable thing in the EIA report was that production increased. We're on our way to set record crude oil production in 2018," said Andrew Lipow, ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, November 09 2017. 02:00 IST