Oil Prices Stable On Healthy Demand, But Oversupply Looms Later In 2018

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Oil prices held steady on Thursday, supported by healthy global demand but capped by the relentless rise in U.S. production that is undermining efforts led by producer cartel OPEC to cut supplies and prop up markets. 

 

U.S. West Texas Intermediate (WTI) crude futures rose 17 cents, or 0.3 percent, to $61.13 a barrel by 0245 GMT. 

 

Brent crude futures were at $65 per barrel, up 11 cents, or 0.2 percent.

 

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