SINGAPORE - Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela.
U.S. West Texas Intermediate crude futures were at $63.78 per barrel, up 20 cents, or 0.3 percent, from their previous settlement. Oil markets have been pushed up by more than a third this year by supply cuts led by the Organization of the Petroleum Exporting Countries , U.S. sanctions on oil exporters Iran and Venezuela, and escalating fighting in Libya.
anyaparampil
Disgusting.
OPEC cuts are fully compensated by US extra production last 2 years brent wti
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Venezuela reports collapse in oil supply, tightening global market: OPECVenezuela told OPEC that the country's oil output sank to a new long-term l... The oilers complain close enough for meeting the golden course have allowed some one more hand have You mean no electricity and maintained infrastructure lowers output? Trump's way of doing business isn't terrorism? Shame on you America. Running down countries isn't good business policy
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices firm back to near 5-month highs ahead of OPEC, U.S. inventory updatesOil futures prices firm early Wednesday, trending back near the five-month closing highs reached earlier this week, as investors awaited U.S. inventory data and a monthly OPEC report meant to show how much output the cartel and its allies cut in March.
Source: MarketWatch - 🏆 3. / 97 Read more »
Russia signals OPEC and allies could raise oil output from JuneOne of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitr... Evil
Source: Reuters - 🏆 2. / 97 Read more »
OPEC could raise oil output if prices increase, shortages mount: sourcesOPEC could raise oil output from July if Venezuelan and Iranian supply drops fur...
Source: Reuters - 🏆 2. / 97 Read more »
Oil at five-month highs amid OPEC-led supply cuts, U.S. sanctionsOil prices rose to their highest level since Nov. 2018 on Monday, driven up by O... Portends higher U.S. consumer energy costs and consequently lower disposable income and ultimately a recession. Sell assets, raise cash and hunker down. Brace! Unleaded gas at $4.34 a gallon today. This is the second time I’ve had to outspend my income tax dividend. Trump’s Saudi Arabia friends are screwing us, thanks Jared.
Source: Reuters - 🏆 2. / 97 Read more »
Oil climbs to five-month high amid OPEC cuts, U.S. sanctions and Libya fightingOil prices rose to their highest level since November 2018 on Monday, driven upw... the opec cuts are as big as the extra production of US
Source: Reuters - 🏆 2. / 97 Read more »
OPEC oil output drops sharply in March, driven by Saudi ArabiaThe bulk of the cuts were shouldered by Saudi Arabia — the de-facto head of OPEC and the world’s largest exporter of crude — which reduced output by 324,000...
Source: MarketWatch - 🏆 3. / 97 Read more »
Oil hits November 2018 highs amid OPEC supply cuts, U.S. sanctionsOil prices rose to five-month highs on Monday, driven up by OPEC's ongoing ... This story is conct of minstrels minstrel is can tach scoped alrdy spices but the golden name is working that Always amazed at Reuters' Oil news. 'Oil hits November 2018 high'. But they don't say Nov 18 high was ~$10 per barrel cheaper than Oct 18 high or ~$7 per barrel cheaper than whole 2018 average price. Chart👇 winning ....I think not.
Source: Reuters - 🏆 2. / 97 Read more »
The U.S. Oil Boom Is Sinking OPEC ImportsThanks to the U.S. shale revolution, our imports from OPEC have been sinking since 2008. And the good news is that friend Canada has filled in quite nicely. Yet gas prices have gone up 60 cents in the past 2 months. 🙈🤣
Source: Forbes - 🏆 394. / 53 Read more »
Oil edges higher amid tightening global supply, gains capped by economic slowdownOil prices crept higher on Wednesday, supported by supply cuts by producer club ... Trump Purges Homeland Security Leadership DHS SecretService KirstjenNielsen StephenMIller Trump again punishing Americans SoCal gas signs, almost all I saw yesterday the price starts with the number $4.00 something all three prices on the signs per gal. Working it's way to $5.00 a gal. Nice job trump. How much money did you make off of the gas prices this week.
Source: Reuters - 🏆 2. / 97 Read more »