Oil prices fell on Thursday, extending losses from the previous session after official data showed U.S. crude and gasoline stocks rose against expectations as production hit a record.

 

Brent crude futures were down 18 cents, or 0.3%, at $63.88 a barrel by 0517 GMT, having dropped 0.3% on Wednesday.

 

US West Texas Intermediate crude fell 24 cents, or 0.4%, to $57.87, after falling 0.5% in the previous session.

 

Crude stockpiles in the United States swelled 1.6 million barrels last week as production hit a record high of 12.9 million barrels per day (bpd), the Energy Information Administration said. Analysts in a Reuters poll had forecast a drop of 418,000 barrels.

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