Shares of energy producers fell after inventory data showed a growing stockpile of oil in the U.S.
Crude-oil stockpiles rose by 856,000 barrels last week for their first weekly buildup since Sept. 15, according to data from the U.S. Energy Information Administration.
Continue Reading Below
Still, oil futures held near recent highs amid speculation about an extension of an international production-cap deal. Top oil producers Saudi Arabia and Russia want to extend their agreement to limit petroleum production until the end of 2018, The Wall Street Journal reported.
Argentina's state-run oil company, YPF, plans to invest more than $30 billion over the next five years to boost production with a particular focus on extracting the millions of barrels of recoverable of oil in the Vaca Muerta shale formation, considered one of the world's most lucrative outside North America.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
October 25, 2017 17:38 ET (21:38 GMT)