| Oil prices fell slightly Thursday as concerns about steady production captured the market’s attention. Light, sweet crude for June delivery settled down 62 cents, or 1%, to $59.88 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 22 cents, or 0.3%, to $66.59 a barrel on ICE Futures Europe.
Traders have been weighing signs that production cutbacks may have bottomed out. Several U.S. producers said in recent quarterly reports that they have met or exceeded their production targets, said Kyle Cooper, managing director of research at IAF Advisors, a Houston consulting firm.........................................Full Article: Source
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