Crude Oil Dropped As Doubt Swirling Over OPEC's Ability

Crude oil trading range for the day is 3137-3217.

Crude oil dropped as doubt swirling over OPEC's ability to force global crude inventories to drop, sentiment has turned more bearish.

Crude oil inventories unexpectedly rose 900,000 barrels at the end of last week, the American Petroleum Institute showed.

Russia said its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do not extend their supply reduction deal beyond June 30.

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