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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 prices rise on the back of expectations that OPEC + will maintain supplies

    Rocky
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    Oil prices rise on the back of expectations that OPEC + will maintain supplies Empty Oil prices rise on the back of expectations that OPEC + will maintain supplies

    Post by Rocky Wed 31 Mar 2021, 8:15 am

       Oil prices rise on the back of expectations that OPEC + will maintain supplies
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    Oil prices rose on Wednesday to trim their evening losses the day before the
     meeting of OPEC and its allies, as investors bet that producers will largely agree to extend supply curbs until May.
    Brent crude futures rose 24 cents, or 0.37 percent, to $ 64.41 a barrel at 05:25 GMT, after falling 1.3 percent on Tuesday.
    US West Texas Intermediate crude futures jumped 29 cents, or 0.48 percent, to $ 60.84 a barrel, after falling 1.6 percent in the previous session.
    The Organization of the Petroleum Exporting Countries and its allies, called OPEC +, are scheduled to meet on Thursday, after a month in which oil prices plummeted due to concerns about the prolonged epidemic lockdown in Europe, the slowdown in vaccine deployment, and the rise in coronavirus cases in India and Brazil, against optimism. About growing growth in the United States.
    OPEC + surprised the market last month by agreeing to extend supply restrictions, with small exceptions for Russia and Kazakhstan, at a time when fuel demand appeared to be recovering.
    Under the current restrictions, OPEC and non-OPEC producers led by Russia have cut just over seven million barrels per day, while Saudi Arabia made an additional voluntary cut of one million barrels per day.
    Investors are betting that producers will largely agree to an extension of supply curbs until May, including voluntary cuts to boost prices.
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