NEW YORK: Crude oil dipped on Friday, plumbing multi-month lows and heading for a sixth straight week of losses, as the approaching end of the U.S. summer driving season suggested a growing surplus in gasoline supply.
Oilfield services firm Baker Hughes' report that the U.S. oil rig count rose by six this week added to the bearish sentiment for crude as it signalled production could creep up from higher drilling activity. Drillers have added a total of 32 oil rigs over the past three weeks.
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