Brent crude oil prices fell on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut. The Organization of the Petroleum Exporting Countries (OPEC) said that its March production jumped 810,000 barrels per day (bpd) to 30.79 million bpd, which is equivalent to a third of global supply. “It seems Saudi Arabia has not had enough of low oil prices,” Singapore-based Phillip Futures said. Front-month Brent crude futures LCOc1 were down 37 cents at $63.61 a barrel at 2.59 a.m. EDT, recovering from a fall of more than $1 in earlier trading. U.S. crude CLc1 was down 43 cents at $56.28 a barrel. Reuters technical analyst Wang Tao said that Brent could fall further to slightly above $61.20 a barrel before finding market support. Dipping output from the United States and other […]