Crude Oil Weakens Further but Downside Risks to Production Remain

31 July 2014 31 July 2014

EddyThibeault

Crude oil remained under pressured in European session. In addition to the rise in US fuel inventory, prices were weighed down by a survey showing that OPEC’s crude output rose in July from a month ago. Reuters' survey showed that OPEC’s supply increased to an average of 30.1M bpd in July from 29.9M bpd in June.