Crude Oil Prices Dropped On Fading Concerns Of Supply Shortfalls And Conflicts

Crude oil trading range for the day is 3722-3964.

Crude oil prices dropped on fading concerns of supply shortfalls and conflicts in the Middle East after the Sept. 14 attack on Saudi Arabia.

Output from the Organization of the Petroleum Exporting Countries and Russia fell in September while production from the United States dropped for a third month in July.

OPEC's output fell to the lowest in eight years in September at 28.9 million barrels per day (bpd), down 750,000 bpd from August's revised figure.

Russia's output declined to 11.24 million bpd in Sept. 1-29, down from 11.29 million bpd in the previous month.

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