Oil Prices Dip on Surging U.S. Crude Stockpiles
Thursday, 11 April 2019 08:33 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil prices fell on Thursday after U.S. crude stockpiles surged to their highest levels in almost 17 months amid record production.

International benchmark Brent futures were at $71.57 per barrel at 0056 GMT, down 16 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude oil futures were at $64.36 per barrel, down 25 cents, or 0.4 percent, from their previous settlement.

U.S. crude inventories rose 7 million barrels to 456.6 million barrels in the last week, their highest since November 2017, the Energy Information Administration said on Wednesday.

U.S. crude oil production remained at a record 12.2 million barrels per day (bpd), making the United States the world's biggest oil producer ahead of Russia and Saudi Arabia.

Source : Reuters

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