Off the wire
• 1st LD Writethru: Multinational battalion to begin deploying in Lithuania next week  • Major corruption uncovered in Helsinki education authority  • Xi urges UN to play central role in global governance  • Spotlight: Earth experiences hottest year on record for 3rd straight time  • 2nd LD Writethru: S.Korean court rejects request to detain Samsung heir for bribery charge  • Hollande, Merkel, Putin discuss Minsk deal, Syria peace talks over phone  • U.S. dollar rebounds amid Fed Beige Book, economic data  • 1st LD Writethru: S.Korean court rejects request to detain Samsung heir for bribery charge  • EU calls for urgent actions to alleviate situation on Greek islands  • Belarus GDP fell by 2.6 pct in 2016  
You are here: 　 Home

Oil prices decline on rising U.S. production

Xinhua, January 19, 2017 Adjust font size:

Oil prices settled lower Wednesday as market expects U.S. producers to boost output.

U.S. shale production will recover from a three-month decline in February, the U.S. Energy Information Administration said in a drilling productivity report on Tuesday. Energy companies are boosting drilling activity as crude prices hover near 18-month high.

February production in the U.S. will increase 40,750 barrels per day to 4.748 million barrels per day, according to the report.

The West Texas Intermediate for February Delivery erased 1.4 dollars to settle at 51.08 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery decreased 1.55 dollars to close at 53.92 dollars a barrel on the London ICE Futures Exchange. Endit