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Oil extends gains on robust OPEC compliance
U.S. oil prices extended modest gains on Thursday as OPEC’s strong compliance with a supply reduction pact offset news that U.S. production topped 10 million barrels per day for the first time in nearly half a century. NYMEX crude for March delivery rose 8 cents, or 0.1 percent, to $64.81 a barrel by 0237 GMT, after ending the last session up 0.4 percent. London Brent crude for April delivery was up 10 cents, or 0.1 percent, at $68.99, after settling up 3 cents in the previous session. U.S. crude oil production in November surpassed 10 million barrels per day for the first time since 1970, and neared the all-time ... (full story)