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Urgent: Oil prices rally amid falling output forecast

Xinhua, October 7, 2015 Adjust font size:

Oil prices soared Tuesday as an official report projected that U.S. crude output will decrease through mid-2016.

The West Texas Intermediate for November delivery moved up 2.27 dollars to settle at 48.53 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery increased 2.67 dollars to close at 51.92 dollars a barrel on the London ICE Future Exchange. Endit