West Texas Intermediate oil dropped to the lowest price this year and headed for a second weekly decline as OPEC production rose for the first time in six months and Chinese manufacturing expanded less than forecast.
Futures slid as much as 0.7 percent to $91.43 a barrel in New York, the lowest intraday price since Dec. 31. Output in the Organization of Petroleum Exporting Countries gained 97,000 barrels to an average of almost 30.7 million a day last month, a Bloomberg survey survey of oil companies, producers and analysts showed………………………………………..Full Article: Source