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OPEC + plans raise oil prices in global markets
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Economy News - Baghdad
Oil prices rose slightly on Monday, supported by OPEC + plans to cut more production, while investors await Chinese economic data in search of indications of a recovery in demand by the largest oil consumer in the world.
Brent crude futures rose 6 cents to $86.37 a barrel by 0350 GMT.
US West Texas Intermediate crude recorded $82.56 a barrel, up 4 cents.
Both contracts posted their fourth weekly gains last week - the longest streak since mid-2022 after the International Energy Agency (IEA) forecast record 2023 demand of 101.9 million bpd, up 2 million bpd from last year.
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Added 04/17/2023 - 9:28 AM
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Economy News - Baghdad
Oil prices rose slightly on Monday, supported by OPEC + plans to cut more production, while investors await Chinese economic data in search of indications of a recovery in demand by the largest oil consumer in the world.
Brent crude futures rose 6 cents to $86.37 a barrel by 0350 GMT.
US West Texas Intermediate crude recorded $82.56 a barrel, up 4 cents.
Both contracts posted their fourth weekly gains last week - the longest streak since mid-2022 after the International Energy Agency (IEA) forecast record 2023 demand of 101.9 million bpd, up 2 million bpd from last year.
59 views
Added 04/17/2023 - 9:28 AM
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