Oil prices dip following info on increased rigs count in US

ASTANA. KAZINFORM - On Monday world oil prices began to fall, according to Rossiyskaya gazeta.

Investors follow the information from Baker Hughes, a US oilfield service company, on an increased count of drilling rigs in the USA. The cost of the May Brent Crude futures reduced by 0.36 percent to $55.7 a barrel. The April futures for WTI crude oil declined by 0.43 percent, i.e. $53 a barrel.

The previously published oil production figures in Russia also affect the markets. At an annual rate the February average daily oil production in the Russian Federation grew by nearly 2 percent - to 11.1 million bopd. The production rate decreased by 138 thousand barrels compared to October 2016 taken as a point of departure in agreement between OPEC oil cartel and non-OPEC countries to cut oil production.