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Oil Prices Rise As Production Declines

Dubai – (Massader News )

Oil prices rose on Friday, and Brent crude futures increased by 0.7% to $ 66.60 a barrel as US production and inventories fell, according to a report published by Mubasher.

 Nymex crude futures rose by 0.7% to $ 60.25 a barrel.

  The US Energy Information Administration announced yesterday that oil inventories fell more than expected by 4.6 million barrels in the week ended December 22, down from expectations of a decline of 3.9 million barrels.

 US crude oil production fell to 9.754 million barrels per day during the same period, compared with 9.798 million bpd in the previous week, according to Mubasher.

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