Oil slips as investors weigh OPEC compliance versus US rigs

Oil prices decline as investors compare drilling activity in the US with OPEC production cuts. OPEC is due to release its monthly report Monday, offering the group's first update on its progress.
Photo: Kamran Jebreili / AP Polfoto
Photo: Kamran Jebreili / AP Polfoto
BY BEN SHARPLES AND PERRY WILLIAMS, BLOOMBERG

Oil retreated near USD 53 a barrel as investors weighed rising US drilling activity against OPEC production cuts that the International Energy Agency estimates achieved a record 90 percent initial compliance rate.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
!
!
Must contain at least 6 characters
!
Must contain at least 2 characters
!
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Share article

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Further reading

Jobs

See all jobs