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OPEC agreement on production pushes oil towards stability
- Time: 04/28/2021 08:31:02
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{Economic: Al Furat News} Oil prices stabilized, on Wednesday, after OPEC + confirmed that it will go ahead with plans to add more barrels to the market, despite the resurgence of the virus in some regions, including India, which led to ambiguity in demand expectations.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. [You must be registered and logged in to see this link.]
The OPEC + committee agreed that the alliance should go ahead with the road map to increase supplies over the next three months, as the alliance raised its estimate for demand growth this year.
China and the United States are pushing the global oil market recovery, with positive signs emerging from parts of Europe. The accelerated vaccination program is expected to increase mobility and consumption even further, although crude oil prices have fallen near $ 60 a barrel recently as it sparked an explosion. Covid-19 in India and Brazil concerns about demand in the near term.
Delegates said OPEC + will skip its ministerial meeting scheduled for Wednesday after sticking to its plan to increase supplies by two million barrels per day over the next three months, with the next meeting in early June.
West Texas Intermediate for June delivery settled at $ 62.91 a barrel on the New York Mercantile Exchange at 05:11. GMT after rising 1.7% on Tuesday.
Brent crude for June fell 3 cents at $ 65.82 on the ICE Futures Exchange, after adding 1.2% in the previous session.
Meanwhile, the American Petroleum Institute reported that US crude inventories increased by 4.32 million barrels last week, and gasoline inventories decreased.
Raghad Daham
[You must be registered and logged in to see this link.]
{Economic: Al Furat News} Oil prices stabilized, on Wednesday, after OPEC + confirmed that it will go ahead with plans to add more barrels to the market, despite the resurgence of the virus in some regions, including India, which led to ambiguity in demand expectations.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. [You must be registered and logged in to see this link.]
The OPEC + committee agreed that the alliance should go ahead with the road map to increase supplies over the next three months, as the alliance raised its estimate for demand growth this year.
China and the United States are pushing the global oil market recovery, with positive signs emerging from parts of Europe. The accelerated vaccination program is expected to increase mobility and consumption even further, although crude oil prices have fallen near $ 60 a barrel recently as it sparked an explosion. Covid-19 in India and Brazil concerns about demand in the near term.
Delegates said OPEC + will skip its ministerial meeting scheduled for Wednesday after sticking to its plan to increase supplies by two million barrels per day over the next three months, with the next meeting in early June.
West Texas Intermediate for June delivery settled at $ 62.91 a barrel on the New York Mercantile Exchange at 05:11. GMT after rising 1.7% on Tuesday.
Brent crude for June fell 3 cents at $ 65.82 on the ICE Futures Exchange, after adding 1.2% in the previous session.
Meanwhile, the American Petroleum Institute reported that US crude inventories increased by 4.32 million barrels last week, and gasoline inventories decreased.
Raghad Daham
[You must be registered and logged in to see this link.]
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