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Oil rises after Saudi Arabia's pledge to cut exports
Oil prices rose more than 1 per cent after Saudi Arabia, OPEC's biggest producer, pledged to cut exports in August to help reduce global supply of crude, while Halliburton chief executive said the increase in US rock oil production is likely to recede. Next year.
For his part, Saudi Energy Minister Khalid Al-Falih said that his country will limit oil exports by 6.6 million barrels per day in August, or about one million barrels per day less than a year ago.
Russian Energy Minister Alexander Novak told reporters that an additional 200,000 barrels per day of crude could be removed from the market if compliance with a global agreement to cut output was 100 percent.
Global Brent crude was up 54 cents, or 1.1 percent, to settle at $ 48.60 a barrel, while US benchmark WTI futures rose 57 cents, or 1.3 percent, to close at $ 46.34 a barrel.
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Oil prices rose more than 1 per cent after Saudi Arabia, OPEC's biggest producer, pledged to cut exports in August to help reduce global supply of crude, while Halliburton chief executive said the increase in US rock oil production is likely to recede. Next year.
For his part, Saudi Energy Minister Khalid Al-Falih said that his country will limit oil exports by 6.6 million barrels per day in August, or about one million barrels per day less than a year ago.
Russian Energy Minister Alexander Novak told reporters that an additional 200,000 barrels per day of crude could be removed from the market if compliance with a global agreement to cut output was 100 percent.
Global Brent crude was up 54 cents, or 1.1 percent, to settle at $ 48.60 a barrel, while US benchmark WTI futures rose 57 cents, or 1.3 percent, to close at $ 46.34 a barrel.
share it
http://www.aljournal.com/%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%8A%D8%B1%D8%AA%D9%81%D8%B9-%D8%A8%D8%B9%D8%AF-%D8%AA%D8%B9%D9%87%D8%AF-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%A8%D8%AE%D9%81%D8%B6-%D8%A7%D9%84%D8%B5/
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