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Yahoo Finance : Oil drops to 3-month low, U.S. erases all gains since OPEC output cut

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Even though OPEC made an upward revision to its global demand outlook, signs of even modestly higher Saudi output flustered investors.
FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014.
Secondary sources had said Saudi output fell in February to 9.797 million barrels per day (bpd), but Riyadh told OPEC it rose to 10.011 million bpd.
Saudi Arabia, the world’s biggest oil exporter, has yet to indicate clearly whether it is ready to extend supply curbs.
[EIA/S]It would be the 10th consecutive weekly increase in U.S. crude stocks, boosting total inventories, including strategic reserves, further past the 1.22 billion barrel record hit during the week ended March 3.

according to

Oil drops to 3-month low, U.S. erases all gains since OPEC output cut

Oil drops to 3-month low, U.S. erases all gains since OPEC output cut*/

Even though OPEC made an upward revision to its global demand outlook, signs of even modestly higher Saudi output flustered investors.
FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014.
Secondary sources had said Saudi output fell in February to 9.797 million barrels per day (bpd), but Riyadh told OPEC it rose to 10.011 million bpd.
Saudi Arabia, the world’s biggest oil exporter, has yet to indicate clearly whether it is ready to extend supply curbs.
REUTERS/Todd Korol/File PhotoNEW YORK Oil tumbled on Tuesday after OPEC reported a rise in global crude stocks and a surprise output jump from its biggest member, Saudi Arabia, further pressuring prices that have now erased nearly all gains since OPEC announced output cuts in November.

according to

Oil drops to 3-month low, U.S. erases all gains since OPEC output cut

Oil drops to 3-month low, U.S. erases all gains since OPEC output cut*/

Even though OPEC made an upward revision to its global demand outlook, signs of even modestly higher Saudi output flustered investors.
Secondary sources had said Saudi output fell in February to 9.797 million barrels per day (bpd), but Riyadh told OPEC it rose to 10.011 million bpd.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ GRAPHIC: Brent oil neutral in $50.84-$51.54 range http://tmsnrt.rs/2nhAGJU GRAPHIC: U.S. oil neutral in $48.15-$48.68 range http://tmsnrt.rs/2mlKPAi ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Additional reporting by Edmund Blair in London and Aaron Sheldrick in Tokyo; Editing by David Gregorio and Dale Hudson) ((scott.disavino@thomsonreuters.com; +1 646 223-6072; Reuters Messaging: scott.disavino.thomsonreuters.com@reuters.net)) Keywords: GLOBAL OIL/ (UPDATE 8)
Saudi Arabia, the world’s biggest oil exporter, has yet to indicate clearly whether it is ready to extend supply curbs.
U.S. crude fell to its lowest settlement since Nov. 29, the day before the Saudi kingdom led the Organization of the Petroleum Exporting Countries (OPEC) to cut supplies.

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