By Alex Longley
U.S. Said to Ask OPEC for 1 Million Barrel a Day Output Hike (1)
* President Trump criticized OPEC for raising prices too high
* Saudis, Russia have proposed gradual increase in second half
By Fiona MacDonald, Grant Smith and Jennifer Jacobs
(Bloomberg) —
The U.S. government has quietly asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million barrels a day, according to people familiar with the matter.
Oil Holds Loss as OPEC Stresses Stable Supplies to Offset Demand
* Global consumption is solid, but risks are growing: BofAML
* WTI trades below $66 after falling 7.7% in previous two weeks
By Heesu Lee
(Bloomberg) —
Oil held losses below $66 a barrel after an OPEC committee stressed the need to ensure supplies can meet growing demand, adding to speculation the group will phase out its production cuts.
U.S. Oil Extends Weekly Loss as Output Surges and Dollar Rises
* Rosneft tests capacity to restore output: Renaissance Capital
* West Texas Intermediate heading for a second week of declines
By Tsuyoshi Inajima and Alex Longley
(Bloomberg) —
Oil in New York headed for a second weekly loss as U.S. output surged, pushing the American marker to near its weakest level in more than three years against global benchmark Brent.
Global Oil Benchmarks Pulled Apart in Sign of Market Discord (1)
* Brent’s premium to WTI rises, while shrinking versus Dubai oil
* Price differences spur shifts in crude-trade flows globally
By Serene Cheong
(Bloomberg) —
Long-established relationships between the world’s most important oil prices are being strained by conflicting forces across the globe.
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