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Oil dips from mid-2015 highs as higher output looms

This follows indications that markets have recently overshot as US production is set to rise further: traders

There is some concern that Russian oil output is in fact not falling. The country is the world's biggest oil producer and one of the key backers, together with Opec, in cutting supplies.


OIL prices on Wednesday dipped away from the mid-2015 highs reached the previous session as high output in the United States and also Russia undermined ongoing efforts led by the Organization of the Petroleum Exporting Countries (Opec) to tighten the market.

US West Texas...