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Crude Oil is trading near seven-week lows
Crude oil traded during a session on Monday, weak moves to keep prices near the seven-week low, as the negative pressure on prices levels on the increase in oil supplies in world markets continued.
US crude futures traded at $ 65.75 a barrel, after hitting a high of $ 65.92 a barrel, while opening today's session at $ 65.64 a barrel, the lowest level at $ 65.56 a barrel.
Crude oil remains under pressure as markets remain focused on the debate among Opec members on whether to increase production later this year to offset the expected decline in Iran's production due to US sanctions as well as the economic crisis in Venezuela.
US crude production in March rose to 10.47 million bpd, a monthly record, the Energy Information Administration said on Thursday.
Baker Hughes Energy Services announced on Friday that drilling in the United States rose by 2 per week to 1 June, bringing the total to 861, the highest level since March 2015.
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