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[size=35][size=35]Oil continues to rise and optimism for a recovery in fuel demand[/size]
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2021-03-15 | 1:46
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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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Economie
[You must be registered and logged in to see this link.]2021-03-15 | 1:46
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2,193 Views
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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