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[size=36]High oil prices and Brent approached the barrier of $ 70 a barrel[/size]
Economie| 09:13 - 15/03/2021
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Follow-up - Mawazine News
Oil prices witnessed, on Monday, a noticeable increase as Brent crude approached the barrier of $ 70 a barrel, supported by production cuts from major producers and optimism about the global economy.
Brent crude futures for May were up 50 cents, or 0.72%, to reach $ 69.72 a barrel.
US West Texas Intermediate crude for April was $ 66.13 a barrel, up by 52 cents, or 0.79 percent.
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. Ended 29 / p4
Oil prices witnessed, on Monday, a noticeable increase as Brent crude approached the barrier of $ 70 a barrel, supported by production cuts from major producers and optimism about the global economy.
Brent crude futures for May were up 50 cents, or 0.72%, to reach $ 69.72 a barrel.
US West Texas Intermediate crude for April was $ 66.13 a barrel, up by 52 cents, or 0.79 percent.
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. Ended 29 / p4
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