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Oil slides as U.S. pumps more, but OPEC and North Korea loom

From reuters.com

Crude oil slid lower on Monday on signs that the United States is continuing to add output, largely counteracting strong economic growth in China and OPEC efforts to cut production. Benchmark Brent crude futures were down 50 cents at $55.39 at 1126 GMT. On Thursday, before major markets closed for a holiday break, they settled up 3 cents at $55.89 a barrel. U.S. West Texas Intermediate (WTI) crude futures were down 47 cents at $52.71 a barrel, after rising 7 cents to $53.18 on Thursday. Both benchmarks had risen last week for a third consecutive week, with Brent adding 1.2 percent over the four days before the Good ... (full story)

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