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Oil is rising, but the trade war is dampening demand expectations

rocky
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Oil is rising, but the trade war is dampening demand expectations Empty Oil is rising, but the trade war is dampening demand expectations

Post by rocky on Wed 11 Dec 2019, 1:47 am

[size=36]Oil is rising, but the trade war is dampening demand expectations[/size]

Economy | 10:20 - 11/12/2019

Oil is rising, but the trade war is dampening demand expectations 711122019_62-173006-oil-below-2019-peak-due-opec-cuts_700x400


Follow-up - Mawazine News
Oil prices rose on Tuesday as support derived from OPEC's agreement last week with other producers continued to deepen production cuts in 2020, but US-China trade tensions overshadowed demand expectations.
The settlement price for Brent crude was set at a height of nine cents to $ 64.34 a barrel, and WTI rose 22 cents, or 0.4 percent, to $ 59.24 a barrel.
The benchmarks fell 0.2 percent and 0.3 percent, respectively, on Monday.
Last week, the Organization of the Petroleum Exporting Countries and producers allied with it, such as Russia, agreed to deepen production cuts from 1.2 million bpd to 1.7 million bpd to support prices.
But the December 15 deadline to impose the next round of US tariffs on Chinese imports has burdened the markets.
"Since the producers announced a production cut last week, the market is consolidating at just just below the peak of three months ... In the absence of a US-China trade agreement, the market finds it difficult to continue this ascending wave," said Jane McGillian, director of market research at Tradition Energy. It ended 29 / p
rocky
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Oil is rising, but the trade war is dampening demand expectations Empty Oil is rising and trade war is dampening demand expectations

Post by rocky on Wed 11 Dec 2019, 1:56 am

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Oil is rising and trade war is dampening demand expectations

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[rtl]Editing Date: 11/12/2019 10:39 • 22 times read[/rtl]
Oil is rising, but the trade war is dampening demand expectations Story_img_5df09d2181ed4
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International: Al Furat News Oil prices rose on Tuesday, as support derived from OPEC's agreement last week with other producers continued to deepen production cuts in 2020, but US-China trade tensions overshadowed demand expectations.
The settlement price for Brent crude was set at a height of nine cents to $ 64.34 a barrel, and WTI rose 22 cents, or 0.4 percent, to $ 59.24 a barrel.
The benchmarks fell 0.2 percent and 0.3 percent, respectively, on Monday.
Last week, the Organization of the Petroleum Exporting Countries and producers allied with it, such as Russia, agreed to deepen production cuts from 1.2 million bpd to 1.7 million bpd to support prices.
But the December 15 deadline to impose the next round of US tariffs on Chinese imports has burdened the markets.
"Since the producers announced a production cut last week, the market is consolidating at just just below the peak of three months ... In the absence of a US-China trade agreement, the market finds it difficult to continue this ascending wave," said Jane McGillian, director of market research at Tradition Energy. "is over


https://alforatnews.com/modules/news/article.php?storyid=222326
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    Current date/time is Fri 24 Jan 2020, 2:23 pm