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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 ahead of OPEC meetings supported by lower US inventories

rocky
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Oil rises ahead of OPEC meetings supported by lower US inventories Empty Oil rises ahead of OPEC meetings supported by lower US inventories

Post by rocky Wed 04 Dec 2019, 2:14 am

Oil rises ahead of OPEC meetings supported by lower US inventories

Oil rises ahead of OPEC meetings supported by lower US inventories 18159





Economy News _ Baghdad
Oil rallied on Wednesday ahead of meetings this week as OPEC and its allies are considering extending production restrictions to shore up the market, while industry data showed that US crude oil inventories fell more-than-expected, contributing to higher prices.
Brent crude futures were up 44 cents, or 0.7 percent, at $ 61.26 a barrel by 0706 GMT.
US West Texas Intermediate (WTI) crude futures were up 38 cents, or 0.7 percent, at $ 56.48.
The Organization of the Petroleum Exporting Countries and allies including Russia, the group known as OPEC +, are preparing to approve further cuts in oil production this week when they meet in Vienna, according to the group's second-largest producer.
Iraqi Oil Minister Thamir al-Ghadhban told reporters on Tuesday in Vienna that a number of key members tended to increase the cut.
OPEC meets on Thursday and then OPEC + meets on Friday. OPEC + has been cutting supplies since 2017 and is expected to keep the cuts in place to ease the impact of record production in the United States.
Crude oil inventories in the US fell more-than-expected last week, according to the American Petroleum Institute. Crude inventories fell by 3.7 million barrels, more than double the expected level of 1.7 million barrels.


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