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Oil prices fall as U.S., Russia supplies grow

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. Analysts expect surging U.S. output to start offsetting efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to withhold production, which have been in place since early 2017 and have pushed up prices significantly in the first half of this year.Brent crude futures, the international benchmark for oil prices, were at $76.21 per barrel at 0504 GMT, down 25 cents, or 0.3 percent, from ...

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First Published: Mon, June 11 2018. 10:41 IST
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