Oil Dips on Prospect of Peak US Production, Despite Strong Demand Signals

Oil Dips on Prospect of Peak US Production, Despite Strong Demand Signals
Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken on Sept. 4, 2022. Dado Ruvic/Illustration/Reuters
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LONDON—Oil prices dipped on Wednesday amid signs the United States, the world’s biggest oil producer, is at peak production, offsetting positive crude demand signals from top consumer China.

Brent futures were down 29 cents to $82.18 a barrel at 1207 GMT, while U.S. West Texas Intermediate (WTI) crude was down 32 cents to $77.94.