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Oil prices decline on rising OPEC output
From:Xinhua  |  2017-08-11 04:37

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NEW YORK, Aug. 10 (Xinhua) -- Oil prices fell on Thursday afterdata showed major oil producing countries' July outputincreased.

The Organization of the Petroleum Exporting Countries' outputjumped by 173,000 barrels per day to 32.87 million barrels,according to secondary sources cited by the group on Thursday in amonthly report.

The surging output showed that the cartel was struggling tostick to the agreement aiming at curbing crude oil supply.

The West Texas Intermediate for September Delivery lost 0.97U.S. dollar to settle at 48.59 dollars a barrel on the New YorkMercantile Exchange, while Brent crude for October delivery erased0.80 dollar to close at 51.90 dollars a barrel on the London ICEFutures Exchange. Enditem

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