REUTERS – Oil prices stable on lower US crude stocks, but rising output weighs
Oil prices stable on lower US crude stocks, but rising output weighs
Contributed by NAMPA / Reuters.
* U.S. commercial crude stocks fall to lowest level since
* But U.S. crude output hits highest since 1970s
* Saudi Arabia says it will take more time to re-balance
By Henning Gloystein
SINGAPORE, Dec 21 (Reuters) – Oil prices were stable on
Thursday after posting strong gains late in the previous session
on the back of a drop in U.S. crude inventories.
Another rise in U.S. oil production, which is close to
breaking through 10 million b …