Oil price dragged down by growing number of rigs

The amount of rigs has increased to the highest level in three months, which could mean that new oil is headed to the market. Meanwhile uncertainty remains regarding the global economy, and the price for European and US oil is now declining.

BY RITZAU FINANS

On the oil market, prices came under pressure on Monday due to new numbers for drilling rigs in the US. The number of rigs has climbed to the highest level in three months, which indicates that new production in on its way to the market.

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