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Oil slips as Russia considers a future output boost

Reuters  |  NEW YORK 

By Julia SimonNEW YORK (Reuters) - Oil prices fell on Thursday, on concerns of lingering global oversupply as Russia considered a future output resumption and OPEC boosted its July production numbers.Russian oil producer Gazprom Neft considers it "economically feasible" to resume production in mature fields after a global agreement among OPEC and non-OPEC expires, a representative of the company said.U.S. West Texas Intermediate crude was down 35 cents or 0.7 percent to $49.21 a barrel. Brent crude futures were down 16 cents or 0.3 percent to $52.54 a barrel by 12:12 p.m. ET (1612 GMT).The ...

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First Published: Thu, August 10 2017. 22:15 IST