Oil down more than 1%

Singapore, Jan. 8 (BNA): Oil prices fell by more than 1% on Monday on a rise in OPEC output.

Brent crude slipped 1.09%, or 86 cents, to $77.90 a barrel by 0344 GMT.

U.S. West Texas Intermediate crude futures shed 1.15%, or 85 cents, to $72.96 a barrel.

Both contracts climbed more than 2% in the first week of 2024 after investors returned from holidays.

Output from OPEC rose 70,000 barrels per day (bpd) in December to 27.88 million bpd, a Reuters survey showed.



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