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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 on Opec supply cuts, but US production is holding back

rocky
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Oil surges on Opec supply cuts, but US production is holding back Empty Oil surges on Opec supply cuts, but US production is holding back

Post by rocky Tue 12 Mar 2019, 5:11 am

Oil surges on Opec supply cuts, but US production is holding back

Oil surges on Opec supply cuts, but US production is holding back 13585


Oil prices rose on Tuesday, supported by strong demand and OPEC-led output cuts, but gains have limited continued US supply growth while analysts warn of risks to the global economy.
At 0636 GMT, US WTI crude futures were at $ 56.92 a barrel, up 13 cents, or 0.2 percent, from the latest settlement.
Brent crude was $ 66.65 a barrel, up 7 cents, or 0.1 percent.
Bank of America Merrill Lynch said that despite adverse economic factors, "we still expect Brent to average $ 70 a barrel this year and to linger behind West Texas to average $ 59 a barrel in 2019."
He added that this was due to factors including the demand for marine diesel expected from next year under the new rules of fuel from the International Maritime Organization.


    Current date/time is Thu 11 Aug 2022, 3:31 am