Oil Ends Lower On U.S. Output Worries, OPEC Doubts

By William L. Watts Markets MarketWatch Pulse

Oil futures drifted lower Monday, with West Texas Intermediate crude for June delivery ending with a loss of 39 cents, or 0.8%, at $49.23 a barrel. Analysts said a combination of worries about rising U.S. output and doubts about the ability of OPEC to achieve an extension of a program of production curbs kept pressure on futures.

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