Crude Oil Prices Dipped Lower On Friday

Crude oil prices dipped lower on Friday, as investors were watchful ahead of the weekend, but the prices were still close to multi-year highs following positive U.S. inventory data released on Thursday.

Oil prices firmed on Monday morning following the small decline in the number of U.S. rigs drilling for new production. 

According to data from oil services firm Baker Hughes – The rig count eased by five in the week to January 5, to 742. The U.S. production is likely to break through 10 million barrels per day (bpd) very soon.

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