Oil prices pared early gains to stay little
changed on Thursday as Opec’s (Organization of the Petroleum Exporting
Countries) strong compliance with a supply reduction pact offset news that US
production topped 10 million barrels per day (bpd) for the first time in nearly
half a century.
London
Brent crude for April delivery was down 1 cent at $68.88 a barrel, after settling
up 3 cents in the previous session.
US crude
oil production in November surpassed 10 million bpd for the first time since
1970, and neared the all-time output record, the Energy Information
Administration said on Wednesday.
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