US Crude Priced to Export as Futures Dip

摘要

Global benchmark Brent crude’s premium to US marker West Texas Intermediate (WTI) widened as oil futures resumed their downward trajectory. Persistent perception of global oversupply amid a rising US oil rig count helped pressure crude on Monday, experts said (OD Mar.20’17). US production has been rising steadily for months and recently topped 9 million barrels per day, US Energy Information Administration data show (OD Mar.16’17). Traders said this has to a degree offset more supportive developments, such as a reasonably high compliance rate with Opec cuts.