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Oil prices extend losses into second session; Russia, OPEC output in focus

Updated : April 16, 2019 08:42 AM IST

Brent crude oil futures were at $71.08 a barrel at 0111 GMT, down 10 cents, or 0.1 percent, from their last close. Brent ended down 0.5 percent on Monday.US West Texas Intermediate (WTI) crude futures were at $63.39 per barrel, down 2 cents, or 0.1 percent, from their previous settlement. WTI fell 0.8 percent on Monday.
Russian Finance Minister Anton Siluanov said over the weekend that Russia and OPEC may decide to boost production to fight for market share with the United States, but this would push oil as low as $40 per barrel.

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