REUTERS – UPDATE 2-Oil prices fall over 1 pct on recovery in U.S. output
UPDATE 2-Oil prices fall over 1 pct on recovery in U.S. output
Contributed by NAMPA / Reuters.
* US crude output soon expected to break through 10 mln bpd
* Crude prices in line for biggest weekly drop since October
* Despite the falls, analysts say market is relatively tight
By Henning Gloystein
SINGAPORE, Jan 19 (Reuters) – Oil prices dropped more than 1
percent on Friday as a bounce-back in U.S. production outweighed
ongoing declines in crude inventories.
If Friday’s falls last, this week will see the biggest
weekly price decli …