Oil dips as US crude output hits record 12 mn barrels per day
The price dips have halted a rally that pushed crude to 2019 highs this week amid supply cuts led by OPEC
Oil prices fell on Friday after the US reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by the West Asia 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 per cent, from their last close.
US West Texas Intermediate (WTI) crude oil futures were at $56.86 per barrel, down 10 cents, or 0.2 per cent, from their last settlement.
