Oil Falls to One-Week Low as OPEC Supply Climbs, Rig Count Grows

  • Libyan crude output increases to 560,000 barrels a day: NOC
  • U.S. oil rig count gains seventh week to most since February

Oil Shorts Tumble as Bears Quickly Exit the Market

Oil fell to a one-week low as OPEC members added supply and U.S. producers increased drilling, threatening to compound a global surplus.

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