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Oil prices slip as Iran signals support for slight increase in Opec supply

Tehran had previously resisted pressure by OPEC's de-facto leader Saudi Arabia to raise output

Reuters  |  Singapore 

Oil prices dipped on Thursday as Iran signalled it could be won over to a small rise in OPEC crude output, likely paving the road for the producer cartel to agree with a supply increase during a meeting on June 22. However, prices were prevented from falling further by record refinery runs in the United States and a large decline in U.S. crude inventories, a sign of strong fuel demand in the world's biggest economy. ALSO READ: India urges OPEC to fill supply gap and ensure sustainable oil prices Brent crude futures, the international benchmark for oil prices, were at ...

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First Published: Thu, June 21 2018. 08:45 IST
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