U.S. oil dips on increased drilling, but OPEC cuts support global markets

[Gerald]

SINGAPORE (Reuters) - U.S. oil prices dipped on Monday, easing from two-year highs on the prospect of increased U.S. output, although global markets were slightly better supported by expectations an OPEC-led supply cut would be extended.

U.S. West Texas Intermediate (WTI) crude futures were at $58.72 a barrel at 0608 GMT, down 23 cents, or 0.4 percent, from their last settlement. Brent crude futures LCOc1 were at $63.85 a barrel, virtually unchanged from their last close.

https://www.reuters.com/article/us-g...KBN1DR02C?il=0

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