Oil prices slide on higher U.S. supply, doubts about Russia’s resolve

NEW YORK – Oil prices fell more than a dollar on Monday, with U.S. crude easing from two-year highs on prospects of higher supply, and uncertainty about Russia’s resolve to join in extending output cuts ahead of this week’s OPEC meeting. U.S. light crude was down $1.21 or 2 percent to $57.74 a barrel by 11:25 a.m. EDT. Brent crude oil LCOc1 was down 51 cents or 0.8 percent to $63.35 a barrel. Oil prices…

"Oil prices slide on higher U.S. supply, doubts about Russia’s resolve"

OPEC oil output falls in October led by drop in Iraqi exports

LONDON – OPEC oil output fell this month by 80,000 barrels per day (bpd), a survey found, as exports from northern Iraq dropped and other producers maintained adherence to a supply cut deal. OPEC’s adherence to its pledged supply curbs rose to 92 percent from September’s 86 percent, the survey found, as top exporter Saudi Arabia continued to pump below its OPEC target and output in Venezuela, in economic depression, declined further. The drop in…

"OPEC oil output falls in October led by drop in Iraqi exports"

Oil rises 2 percent, boosted by potential OPEC deal

NEW YORK – Oil prices rose about 2 percent on Thursday as signs Saudi Arabia and Russia would limit production through next year pushed the U.S. benchmark back above $50 a barrel. The news outweighed Wednesday’s U.S. data showing record U.S. exports and the return of production at a major Libyan oilfield. Brent futures LCOc1 settled at $57 a barrel, up 2.2 percent, or $1.20, while U.S. crude CLc1 rose 81 cents, or 1.6 percent,…

"Oil rises 2 percent, boosted by potential OPEC deal"