Oil production from the Organization of the Petroleum Exporting Countries rose by 300,000 barrels a day in October from a month earlier, to a record 33.54 million barrels a day, according to a S&P Global Platts survey released late Friday afternoon. The increase marked the fifth monthly increase in a row, the survey of OPEC and oil industry officials said. “OPEC’s freeze math has gotten more complicated, as its countries keep pumping more,” Herman Wang, senior writer for S&P Global Platts, said in a statement. December West Texas Intermediate crude traded at $44.12 a barrel in electronic trading, after settling at $44.07, down 59 cents, or 1.3% for the New York Mercantile Exchange session.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News