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rise of US oil is waiting for the end of the trade dispute between two countries[/size]
Twilight News
3 hours ago
rise of US oil is waiting for the end of the trade dispute between two countries[/size]
Twilight News
3 hours ago
US oil prices rose on Wednesday, driven by hopes that Washington and Beijing would settle their trade disputes, which overshadow the global economy.
US WTI crude futures were $ 50.38 a barrel, up 1.2% from the previous settlement, the first time crude has exceeded $ 50 this year.
Trade talks in Beijing between China and the United States, the world's two largest economies, were on their third day, with signs of progress on issues including China's purchase of agricultural and energy goods from the United States and more open Chinese markets to the US producer.
In addition, oil prices have received support from production cuts initiated at the end of 2018 by a group of crude producers of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC member Russia.
The cuts are aimed at curbing supply bottlenecks caused by a rise in US crude production by 2 million bpd in 2018 to a record 11.7 million bpd.
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