WASHINGTON (dpa-AFX) - Crude oil prices fell Wednesday after the EIA said U.S. production jumped to an all time high in November.
April WTI oil fell $1.37, or 2.2%, to settle at $61.64/bbl. Oil prices dropped more than 4 percent in February.
A stronger dollar also dented oil prices.
Revised data released by the Commerce Department on Wednesday showed slightly slower than previously estimated U.S. economic growth in the fourth quarter of 2017.
The report said gross domestic product climbed by 2.5 percent in the fourth quarter compared to the previously estimated 2.6 percent increase. The downward revision to GDP growth matched economist estimates.
Copyright RTT News/dpa-AFX