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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 to more than $ 65

    Rocky
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    Oil rises to more than $ 65 Empty Oil rises to more than $ 65

    Post by Rocky Tue Dec 26, 2017 4:48 am

    Oil rises to more than $ 65








    Oil prices stabilized on Tuesday and Brent crude is near its highest level since 2015, buoyed by strong demand forecasts amid continuing OPEC-Russia production cuts.
    By 0650 GMT, the WTI crude futures contract was $ 58.52 a barrel, up 5 cents from the previous settlement.
    Global Brent crude hit $ 65.25 a barrel, unchanged from the previous close, but nearing its June 2015 high of $ 65.83 a barrel briefly touched on Dec. 12.
    Brent has risen 47 percent since mid-2017. The Organization of the Petroleum Exporting Countries (OPEC) and Russia, the world's largest single oil producer, are curbing production to narrow the gap between market supply and demand and price support.
    The cut-off deal came into effect in January and is scheduled to last until the end of 2018.
    Iraqi Oil Minister Jabbar al-Luaibi predicted on Monday that there would be a balance between supply and demand during the first quarter of 2018, leading to the strengthening of oil prices.
    Production cuts came amidst strong global demand, which many analysts expect to reach 100 million barrels per day for the first time next year or 2019.





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