Oil prices dipped on Thursday after data showed record U.S. crude oil production...
SINGAPORE - Oil prices dipped on Thursday after data showed record U.S. crude oil production, which resulted in a surge in stockpiles.
Spot Brent crude futures, the international benchmark for oil prices, were at $72.09 per barrel at 0032 GMT, down 9 cents, or 0.1 percent, from their last close. U.S. crude stockpiles last week rose to their highest since September 2017, jumping by 9.9 million barrels to 470.6 barrels, as production set a record high of 12.3 million barrels per day , while refining activity rates fell, the Energy Information Administration said on Wednesday.
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