Oil prices start to rise after dip due to US output growth
Baku, Azerbaijan, Jan.27
By Leman Zeynalova – Trend:
World oil prices have started to rise again on Jan.27 after the decrease recorded earlier in the day due to the growing US output.
The price of March futures for Brent crude oil has increased by 0.25 percent to $56.38 per barrel as of 02:55 EST. Meanwhile, the price of March futures for West Texas Intermediate (WTI) oil rose by 0.32 percent and stood at $53.95 per barrel.
Earlier, oil prices dropped slightly due to the data released by the US Energy Department about the growing output in the country. The oil production in the US has increased by 0.19 percent or by 17,000 barrels per day to 8.961 million barrels per day over the week ending Jan.20, according to the data.---
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