Crude oil eases on record U.S. production, OPEC supply hopes


By Naveen ThukralSINGAPORE (Reuters) - Crude oil futures lost more ground on Friday, with the U.S. market set for a second week of decline on pressure from record U.S. production and expectations of OPEC boosting output.U.S.

West Texas Intermediate crude lost 16 cents, or 0.2 percent, to $66.88 a barrel by 0423 GMT, after falling almost 2 percent on Thursday.Global benchmark Brent crude, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel.For the week, WTI is on track for a 1.5 percent fall,.....

This article is no longer available in our repository.

There could be multiple reasons for this.