https://nighthawkrottweilers.com/

https://www.chance-encounter.org/

Business

Oil leap in Saudi Russia, support for supply cut by Reuters




© Reuters. Pumpjacks are seen against the sunset on Daqing oil field in Heilongjiang

By Florence Tan

SINGAPORE (Reuters) – Oil prices rose more than $ 1 a barrel Monday after Saudi Arabia, Russia, Iraq supported an expansion of supply cut in another Six to nine months before an OPEC meeting this week.

The September first-quarter period affected an intraday high of $ 66.1[ads1]4 per barrel and was up $ 1.12, or 1.7%, at $ 65.86 per barrel at 1252 GMT. 19659004] August futures rose $ 1.10, or 1.9%, to $ 59.57 per barrel after achieving a peak of $ 60.10, the highest for over five weeks.

The Petroleum Exporting Organization (OPEC) and its Allies appear to expand oil supply cuts until the end of 2019 as top Sunday producers, backing a crude oil policy.

OPEC, Russia and other manufacturers, an alliance known as OPEC +, meet July 1-2 for discussing supply cuts. The group has reduced oil production since 2017 to prevent prices from slipping among a weakening global economy and strong US production.

On Sunday, Russian President Vladimir Putin said he had agreed with Saudi Arabia to extend existing cuts of 1.2 million barrels per day (bpd) by six to nine months.

Saudi Energy Minister Khalid al-Falih said that the agreement is likely to be extended by nine months, and no deeper reductions were needed.

"While this has to be ratified by remaining members of the OPEC + group, this seems to be a mistake, ANZ analysts say in a note.

Oil prices have been renewed pressure in recent months from rising US supplies and a slower global economy

US crude oil production in April rose to a new monthly record of 12.16 million bpd, US Energy Information Administration said in a monthly report on Friday

The financial market was raised by a thawing of US-China relations after the leaders of the two worlds The largest economies agreed Saturday to start trade negotiations.

Nevertheless, analysts are still skeptical that both parties can reach an agreement soon.

"Until more details arrive, we are back in the square "Alfonso Esparza, a senior market analyst at Oanda in Toronto, said in a note.

" The road ahead looks complicated as China demands more equal treatment, and the United States Cows Through Intellectual Property Protection. "

Disclaimer: Merger Media will remind you that the data on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by stock exchanges, but rather by market makers, and therefore prices cannot be accurate and may differ from actual market prices, meaning prices are indicative and not appropriate for trading. Therefore, Fusion Media has no responsibility for any loss of trade you may incur as a result of using this data.

Merger media or anyone involved in Fusion Media does not accept liability for any loss or damage arising from this. of trust in the information, including data, quotes, charts and buy / sell signals found on this website. Be well informed about the risks and costs associated with trading in the financial markets, which is one of the most risky forms of investment.



Source link

Back to top button

mahjong slot

https://covecasualrestaurant.com/

sbobet

https://mascotasipasa.com/

https://americanturfgrass.com/

https://www.revivalpedia.com/

https://clubarribamidland.com/

https://fishkinggrill.com/