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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 continues its gains by supporting Saudi Arabia's commitment to cut production

    Rocky
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     Oil continues its gains by supporting Saudi Arabia's commitment to cut production Empty Oil continues its gains by supporting Saudi Arabia's commitment to cut production

    Post by Rocky Thu 15 Feb 2018, 2:42 am

     Oil continues its gains by supporting Saudi Arabia's commitment to cut production


     Oil continues its gains by supporting Saudi Arabia's commitment to cut production 5932

    Oil prices rose more than 1 percent on Thursday to continue gains gained in the previous session, supported by the dollar's decline and Saudi comments confirming Saudi Arabia's commitment to production cuts in 2018.
    US crude futures rose 84 cents, or 1.4 percent, to $ 61.44 a barrel, after rising 2.4 percent in the previous session.
    London Brent crude <LCOc1> was up 69 cents, or 1.1 percent, at $ 65.05 a barrel after a 2.6 percent gain on Wednesday.
    Traders said prices were boosted by a weaker US dollar against major currencies.
    More importantly, the support found by the market in statements by Saudi Arabia, OPEC's largest oil producer, has confirmed its support for OPEC-led production cuts and independent producers, including Russia since 2017, in a bid to narrow the gap between supply and demand in the market and boost prices.
    "I think we will stick to our (production reduction) policy throughout 2018," Saudi Energy Minister Khalid al-Falih said on Wednesday.
    However, increased production in the United States, which did not participate in the cut-off deal, threatens to undermine OPEC-led efforts to balance markets.


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