Oil Prices Falter as Libyan, U.S. Production Threatens to Mute OPEC Cuts

Oil Prices Falter as Libyan, U.S. Production Threatens to Mute OPEC Cuts
Oil prices wobbled after a deal by OPEC and its allies to extend production cuts was offset by the prospect of increased output from Libya and U.S. shale producers. West Texas Intermediate, the benchmark for U.S. crude, edged down 0.7% after briefly climbing above $40 a barrel, its highest price since early March. Brent crude,…

Oil prices wobbled after a deal by OPEC and its allies to extend production cuts was offset by the prospect of increased output from Libya and U.S. shale producers.

West Texas Intermediate, the benchmark for U.S. crude, edged down 0.7% after briefly climbing above $40 a barrel, its highest price since early March. Brent crude, the gauge for international oil prices, wavered between gains and losses at just over $42 a barrel.

The…

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