Oil extends drop as demand concerns overshadow Saudi output cut

Oil declined amid persistent concerns over the demand outlook following a short-lived bounce on Saudi Arabia’s pledge to cut more supply.

Oil falls as global backdrop outweighs Saudi output cut

Brent crude futures slipped 27 cents to $76.44 a barrel by 0411 GMT. The U.S. West Texas Intermediate crude fell 33 cents to $71.82 a barrel.

Saudi Arabia goes alone at OPEC with million-barrel output cut: Report

The OPEC announced a surprise supply reduction of about 1.6 million barrels a day in early April, but since then weak economic data from China have weighed on oil futures, which fell 11% in New York in May.

Oil prices rise as Congress approves US debt ceiling bill

Brent crude futures rose 34 cents, or 0.46% to $74.62 a barrel by 0302 GMT, while U.S. West Texas Intermediate crude (WTI) rose 30 cents, or 0.43%, to $70.40, following two consecutive days of losses.

Oil prices fall on conflicting OPEC, Russia messages

GLOBAL-OIL:Oil falls on conflicting OPEC , Russia messages amid stronger dollar

Oil holds gains as US stockpile draw counters debt-deal tensions

Crude is still down more than 7% for the year as lackluster Chinese growth and tighter US monetary policy combined to subdue demand.

Oil prices rise $1 on concerns over tightening supply

Brent had earlier rose as much as $1.03 to $77.87 a barrel. WTI had jumped as much as $1.07 to $73.98 a barrel.

Oil extends gains on higher gasoline demand, tighter supply

Brent crude futures rose 28 cents, or 0.37%, to $76.27 a barrel by 0320 GMT while U.S. West Texas Intermediate crude was at $72.36 a barrel, up 31 cents, or 0.43%.

Oil prices decline for the third day as US debt talks take center stage

Brent crude fell toward $75 a barrel after losing almost 2% over the prior two sessions.

Oil prices ease on caution over US debt ceiling talks

Brent crude futures dipped 20 cents, 0.3%, to $76.76 a barrel as of 0228 GMT. U.S. West Texas Intermediate crude also dropped 20 cents to $72.63 a barrel.

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Oil extends drop as demand concerns overshadow Saudi output cut

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