Oil Prices Dip As Russia Warns Of Gradual Production Increase; Brent Crude Slips Below $79

Oil prices eased on Friday as Russia hinted it may gradually increase output, after having withheld supplies in concert with producer cartel OPEC since 2017. Brent crude futures were at $78.69 per barrel at 0208 GMT, down 10 cents from their last close, and more than 2.2 percent below the $80.50 November 2014 high they reached on May 17. Brent broke through $80 for the first time in more than three years earlier in May. U.S. West Texas Intermediate (WTI) crude futures were at $70.62 a barrel, down 9 cents from their last settlement. For More Information Please Visit : www.paceresearchindia.com and Call Now : 8817774774