New York, Sep 1: Oil prices extended their rally on Monday for the third day as worries of supply glut eased, a media report said. The US Energy Information Agency (EIA) estimated on Monday US crude oil production in June 2015 at 9.3 million barrels per day (b/d), a decrease of approximately 100,000 b/d from the revised May 2015 figure, Xinhua reported.(Read:Oil prices tumble in Asia on Chinese data)Also Read - Drink Wine All Day, Sleep in Barrel? THIS 280-Year-Old Vineyard is Offering Luxurious Stay With Breathtaking View

Production estimates released by the EIA for January through May were revised downward by 40,000 b/d to 130,000 b/d. The Organisation of the Petroleum Exporting Countries (OPEC) on Monday voiced concern about the impact of low crude prices on the petroleum industry. Also Read - Humour to the Rescue: As Crude Oil Prices Crash, Hilarious Memes Take Over Twitter

“Today’s continuing pressure on prices, brought about by higher crude production, coupled with market speculation, remains a cause for concern for OPEC and its members –indeed for all stakeholders in the industry,” the OPEC said in a bulletin. The West Texas Intermediate for October delivery moved up $3.98 to settle at $49.2 a barrel on the New York Mercantile Exchange, while Brent crude for October delivery increased $4.1 to close at $54.15 a barrel on the London ICE Future Exchange. Also Read - No Adverse Impact of Coronavirus on Indian Economy, Claims Mos Finance Anurag Thakur