Oil prices settle lower on stronger supply outlook

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The story "Oil prices settle lower on stronger supply outlook" was covered 1 months ago by The Star, a news publisher based in Malaysia.

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The Star 1 mo ago

Oil prices settle lower on stronger supply outlook - The Star

Quick Summary:

Oil prices settled lower on Friday, making their weekly finish flat to lower, as indications of strong Russian oil supply offset better-than-expected US economic growth data, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand.

He added that profit taking ahead of the weekend may also have driven prices lower.

US energy firms this week kept oil and natural gas rigs steady at 771, energy services firm Baker Hughes Co BKR.