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Oil dips as U.S. and Russian supplies grow, but market eyes Singapore summit

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices fell on Monday, pulled down by rising Russian production and U.S. drilling activity creeping to its highest in more than three years.However, many analysts were looking less at markets and more at politics as U.S. President Donald Trump and North Korean leader Kim Jong Un have both arrived in Singapore for a summit on Tuesday that may lay the groundwork for ending a nuclear stand-off between the old foes.Back in oil markets, analysts expect surging U.S. output to start offsetting efforts led by the Organization of the Petroleum Exporting ...

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First Published: Mon, June 11 2018. 12:34 IST