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

By William L. WattsMarketsMarketWatch 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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