Oil price dips as U.S. crude output hits record 12 mln barrels per day


Oil price dips as U.S. crude output hits record 12 mln barrels per day

Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East dominated producer club OPEC to withhold supply and tighten global markets.

International Brent crude futures were at $66.94 per barrel at 0151 GMT, down 13 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude oil futures were at $56.86 per barrel, down 10 cents, or 0.2 percent, from their last settlement. Read More

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