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TC: Oil prices dip as US dollar increases
 
Crude prices have fallen due to the US dollar rising, after several weeks of increases caused by OPEC’s production cut.

US West Texas Intermediate April crude contract dropped 37 cents to touch $53.99 a barrel, while Brent crude was down by 44 cents to be traded at $56.83, reported Reuters.

Earlier, OPEC indicated optimism over its output cut compliance level.

OPEC secretary general Mohammad Barkindo stated in a news conference in London that the January data of output-cut indicated more than 90% compliance from the participating member countries.

Source