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Oil Holds Gains After 8th Weekly Climb as U.S. Rig Count Shrinks

2015-05-11 09:36:54| Oil & Gas - Topix.net

Futures were little changed in New York after capping a 0.4 percent weekly advance Friday, the longest run of increases since February 2013. The U.S. rig count declined by 11 to 668, extending a slide that started in December, according to Baker Hughes Inc. The Organization of Petroleum Exporting Countries, which is scheduled to meet June 5, is unlikely to cut its output quota, according to an official at National Iranian Oil Co.

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