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Oil prices dip on record U.S. crude exports, but OPEC-led supply cuts support

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices dipped on Thursday after the United States reported record crude exports, although traders said that efforts led by OPEC and Russia to cut production meant markets remained well supported overall.U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.90 per barrel at 0015 GMT, down 8 cents, or 0.16 percent, from their last close.Brent crude futures , the international benchmark for oil prices, were down 5 cents, or 0.1 percent, at $55.75 a barrel.The declines came after the Energy Information Administration (EIA) said ...

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First Published: Thu, October 05 2017. 06:05 IST