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Oil dips on global economy jitters, but OPEC output cuts offer some support

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil markets dipped on Friday, dragged down by concerns over a global economic slowdown although supply cuts led by producer club OPEC and U.S. sanctions against Venezuela provided crude with some support.U.S. West Texas Intermediate (WTI) crude futures were at $52.47 per barrel at 0123 GMT, down 17 cents, or 0.3 percent, from their last settlement. WTI dropped by around 2.5 percent the previous session.International Brent crude oil futures were down by 12 cents, or 0.2 percent, at $61.51 per barrel after falling 1.7 percent the previous ...

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First Published: Fri, February 08 2019. 07:00 IST
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