Xinhua, New York :
Oil prices settled slightly higher on Friday, as investors bought the dip after previous two-day’s declines.
Oil prices suffered losses in the past two sessions, with both U.S. oil and Brent crude hitting six-month low, amid lingering concerns about a global supply glut.
Despite Friday’s modest gains, oil prices still posted a fourth straight weekly decline.
On the data front, U.S. oil production is still rising as rigs classified as drilling for oil are up 6 to 747 this week, according to data released by oilfield service company Baker Hughes on Friday.
Oil prices settled slightly higher on Friday, as investors bought the dip after previous two-day’s declines.
Oil prices suffered losses in the past two sessions, with both U.S. oil and Brent crude hitting six-month low, amid lingering concerns about a global supply glut.
Despite Friday’s modest gains, oil prices still posted a fourth straight weekly decline.
On the data front, U.S. oil production is still rising as rigs classified as drilling for oil are up 6 to 747 this week, according to data released by oilfield service company Baker Hughes on Friday.
