Chesapeake Energy Corp (CHK)

[Couch]

Oil prices slid to almost four-month lows on Wednesday, with Brent briefly falling below $50 a barrel, after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June.

U.S. crude supplies climb to record 533.1 million barrels: EIA

The U.S. Energy Information Administration (EIA) said U.S. inventories climbed almost 5 million barrels to 533.1 million last week, far outpacing forecasts of 2.8 million

The market remains nervous about rising U.S. production, which is also reducing the effectiveness of output cuts by the OPEC and some non-OPEC countries