http://ift.tt/2rENOKH
Crude fell more than 1 percent on Friday, heading for a second straight week of losses, on worries that U.S. President Donald Trump’s decision to withdraw from an international climate accord will spur further domestic production and contribute to a persistent global oversupply. Market analysts are troubled by a growth in U.S. crude production that is straining efforts from the Organization of the Petroleum Exporting Countries to reduce global oversupply. U.S. drillers this week added 11 rigs, in a record stretch of 20 straight weeks of additions, data from energy services company Baker Hughes showed.
June 04, 2017 at 07:57AM
http://ift.tt/2rEVjBj
from
http://ift.tt/2rEVjBj