Oil drops on rising US drilling

More rigs: A file picture showing three floor hands making a pipe connection on the drill string on the Orion Perseus drilling rig near Encinal in Webb County, Texas. US drillers added 14 oil rigs in the week to March 17, bringing the total count up to 631, the most since September 2015. – Bloomberg

Prices also affected by high Opec supplies despite its pledge to cut output

SINGAPORE: Oil prices fell with already-bloated markets pressured by rising US drilling activity and steady supplies from Organisation of the Petroleum Exporting Countries (Opec) countries despite touted production cuts.