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Crude Oil On Prolonged Losing Skid

Crude oil futures fell for a fourth straight session Thursday, but held above the psychologically important $50 mark.

June WTI oil settled at $50.71/bbl, down 14 cents, or 0.3%

May WTI oil fell 17 cents, or 0.3%, to settle at $50.27/bbl on its expiration day.

Soaring U.S. production continued to offset OPEC's supply quota plan.

Analysts say OEPC will extend its output cuts beyond the first half of the year. The cartel meets next month in Vienna to hammer out the details.

by RTT Staff Writer

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