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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Oil rises supported by expectations of extended production cuts

rocky
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Oil rises supported by expectations of extended production cuts Empty Oil rises supported by expectations of extended production cuts

Post by rocky Mon Apr 24, 2017 5:00 am

Oil rises supported by expectations of extended production cuts



2017/04/24 11:21
(Mubasher): Oil prices rose during Monday's trading, after strong losses recorded last week, supporting expectations of extension of the agreement to reduce production.
By 0845 GMT, the benchmark Brent crude was up 0.38% at $ 52.16 a barrel.

Nymex crude futures were up $ 49.81 a barrel, up 0.38%.

Oil prices were hit last week by concerns about a rise in US production and US gasoline inventories rose after a three-week slump, with Nymex falling below $ 50 a barrel.

The Kuwaiti oil minister had revealed last week that Russia agreed in principle to extend the agreement to reduce production beyond June.

Issam al-Marzouki also expected the extension of the global oil supply reduction agreement to be extended beyond June, supported by increased commitment from non-OPEC producers.



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