Economic news

Oil prices slip on rising output

Oil prices continued to fall on Friday amid increasing production from the United States as well as the Organization of the Petroleum Exporting Countries.

Brent crude benchmark lost 0.2 percent to $51.92 a barrel. U.S. light, sweet crude futures were 0.1 percent lower at $48.95 per barrel.

Some of the cartel members, like Saudi Arabia, have increased their oil exports. In the U.S., crude output has hit 9.43 million bpd, its top since August 2015.

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