Oil prices fell on Thursday, extending losses from the previous session after official data showed US crude and gasoline stocks rose against expectations and production hit a record.
Brent crude futures were down 16 cents, or 0.3 per cent, at $63.90 a barrel by 0141 GMT, having dropped 0.3 per cent on Wednesday. US West Texas Intermediate crude fell 21 cents, or 0.4 per cent, to $57.90, after falling 0.5 per cent in the previous session.
Crude stockpiles in the United States swelled 1.6 million barrels last week as production hit a record high of 12.9 million barrels per day (bpd) and refinery runs slowed, the Energy Information Administration said. Analysts in a Reuters poll had forecast an inventory drop of 418,000 barrels.
