(Bloomberg) -- Oil’s on track for the biggest weekly loss in a month as Saudi Arabia’s boosts its crude output at a time when global trade tensions continue to rattle markets.
Futures were steady in New York, and headed for a 4.4% decline this week. Saudi Arabia’s daily production rebounded to about 9.8 million barrels just weeks after crippling missile attacks on crucial installations, consultant JBC Energy said. Meanwhile, Chinese officials are casting doubts about reaching a comprehensive long-term trade deal with the U.S.
