Tokyo November 14 2024: Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices.
Brent crude futures were down 6 cents, or 0.08%, at $72.22 a barrel by 0133 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 13 cents, or 0.19%, at $68.30.
The U.S. Energy Information Administration has slightly raised its expectation of U.S. oil output to an average 13.23 million barrels per day this year, or 300,000 bpd higher than last year’s record of 12.93 million bpd, and up from 13.22 million bpd forecast earlier.
