Oil prices stable as talk of OPEC output cuts supports, but soaring U.S. production drags
Share:
SINGAPORE (Reuters) - Oil prices were stable on Thursday, supported by rumblings from within OPEC that production curbs may become necessary again to prevent a return of global oversupply.But soaring U.S. crude output, which hit a record 11.6 million barrels per day (bpd) last week, kept a lid on prices.U.S. West Texas Intermediate (WTI) crude oil futures were at $61.75 per barrel at 0120 GMT, up 8 cents from their last settlement.Front-month Brent crude oil futures were up 6 cents at $72.13 a..