Crude oil little changed amid rising US output, OPEC production cuts

Crude oil little changed amid rising US output, OPEC production cuts

Crude oil futures were largely unchanged on Thursday, with the market torn between rising US production and the output cuts being made by OPEC and other producers.

Benchmark Brent crude futures were flat at $55.86 a barrel by 0657. The market had climbed to a one-month high of $56.65 on Wednesday before losing ground.

US West Texas Intermediate crude futures were down 6 cents at $53.05 a barrel. They touched their highest since March 7 at $53.76 barrel in the previous session. Read More…

Credit By: The Hindu Business Line

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