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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 continues to rise and optimism for a recovery in fuel demand

rocky
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Oil continues to rise and optimism for a recovery in fuel demand Empty Oil continues to rise and optimism for a recovery in fuel demand

Post by rocky Mon 15 Mar 2021 - 5:49

[size=35][size=35]Oil continues to rise and optimism for a recovery in fuel demand[/size]
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Economie

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2021-03-15 | 1:46
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Oil prices rose on Monday, with Brent crude declining near $ 70 a barrel, supported by production cuts from major producers and optimism about the global economy and the recovery in fuel demand in the second half of the year.


May Brent crude futures rose 50 cents, or 0.72%, to $ 69.72 a barrel by 05:28 GMT, while US West Texas Intermediate crude for April was at $ 66.13 a barrel, up 52 cents, or 0.79%.







The supply cuts come as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC +, decided earlier this month to extend most of the supply cuts until April.

Investors are expecting China to release positive economic data on Monday, which supports stronger growth expectations in the world's second largest oil consumer.

Separately, US energy companies cut the number of oil and natural gas platforms operating by one in the first weekly decline since November, which gave an additional boost to the rise in oil prices.



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