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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 surges 1% as supply cuts but slowing economy slows demand expectations

rocky
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Oil surges 1% as supply cuts but slowing economy slows demand expectations Empty Oil surges 1% as supply cuts but slowing economy slows demand expectations

Post by rocky Tue 15 Jan 2019, 2:03 am

Oil surges 1% as supply cuts but slowing economy slows demand expectations

Oil surges 1% as supply cuts but slowing economy slows demand expectations 12369


Oil prices rose more than 1 percent on Tuesday amid supply cuts led by OPEC and Russia, but a worsening economic outlook could soon bring fuel demand growth.
Brent crude <CLc1> was $ 59.80 a barrel at 0628 GMT, up 81 cents, or 1.4 percent, from the last close.
West Texas Intermediate crude was $ 51.21 a barrel, up 70 cents, or 1.4 percent.
"Opec-led cuts and a decline in the number of American excavators has boosted market sentiment in the new year," brokerage firm Philip Futures said.
OPEC and a number of independent producers, including Russia, agreed late last year to cut output to curb global supply glut.
In the United States, the number of rigs looking for new oil production from the 2018 peak of 888 dredged to 873 earlier this year, which could result in an increase in production of more than 2 million barrels per day last year, bringing US crude production to a record 11.7 million barrels per day .


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