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[size=32]The decline in oil is affected by expectations of higher production[/size]
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Oil prices fell on Thursday, influenced by expectations that OPEC members will raise production in the face of concerns about the supply of Venezuela and Iran.[/rtl]
[rtl]Prices were also affected by a sudden increase in US crude inventories, pushing the price difference between Brent and US crude west Texas Intermediate to near its three-year high.[/rtl]
[rtl]Brent crude futures were down 37 cents, or 0.46 percent, at $ 79.43 a barrel.[/rtl]
[rtl]West Texas crude fell 27 cents, or 0.38 percent, to $ 71.57 a barrel.[/rtl]
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