REUTERS – UPDATE 1-Oil range-bound as disruptions offset by rising U.S. output
UPDATE 1-Oil range-bound as disruptions offset by rising U.S. output
Contributed by NAMPA / Reuters.
* North Sea Forties pipeline outage has lifted Brent
* Ongoing OPEC-led cuts generally support oil prices
* But rising U.S. output counters OPEC-led cuts
(Recasts with higher prices, adds comment)
By Henning Gloystein
SINGAPORE, Dec 19 (Reuters) – Oil markets edged up on
Tuesday as the Forties pipeline outage in the North Sea and
voluntary production restraint led by OPEC supported crude,
although soaring output in the United States put a cap on gains.