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Oil drops on doubts over output cuts, swelling U.S. fuel inventories
June 4, 2020
Source: Reuters

Oil drops on doubts over output cuts, swelling U.S. fuel inventories

Oil prices fell on doubts over the ability of top crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories. Brent crude futures were down 0.4%, to $39.61. WTI dropped 0.7%, to trade at $37.03. Saudi Arabia and Russia, want to extend cuts of 9.7 million barrels per day (bpd) that major producers agreed to in April.

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