Oil prices weighed down by record US output, inventories
Oil prices fell on Thursday, pulled down by record US crude production that led to a surge in inventories.
Brent crude oil futures were at $71.57 per barrel at 0837 GMT, 61 cents below their last close. Brent is set for a weekly loss, which would break its longest string of weekly gains for a year.
US West Texas Intermediate crude futures were down 60 cents at $63.00 per barrel.
US crude stockpiles last week rose to their highest since September 2017, jumping by 9.9 million barrels to 470.6 million barrels as production hit a record high of 12.3 million barrels per day (bpd), government data showed.
