ENM: Oil falls to $55 as Kuwait comments refocus on oversupply
LONDON: Brent crude oil fell back to $55 a barrel on Thursday after Kuwait said OPEC had no choice but to keep production steady, refocusing the market on global oversupply as the dollar recovered from sharp losses in the previous session.
Brent had rallied by more than $2 a barrel on Wednesday after the Federal Reserve indicated it would raise US interest rates slower than previously thought, overshadowing data showing US crude stocks at a ..
