An oil well is seen near Denver, Colorado. Picture: REUTERS
Brent crude futures were up 28c, or 0.5%, at $62.56 a barrel by 4.41am GMT, having dropped 9c on Thursday. “There’s no reason to extend the cuts, we all know the economies are softening,” he said. “If you push prices higher it is going to hurt everyone and even if it doesn’t, it’s only going to play into the US producers’ hands.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lower crude stocks lead to jump in oil priceBut prices were capped by mixed signs for oil demand in China, the world's biggest oil importer
Source: BDliveSA - 🏆 12. / 63 Read more »
Oil stronger after fall in US stocksPrice increase adds to upbeat comments from Fed chair Jerome Powell
Source: BDliveSA - 🏆 12. / 63 Read more »
IEA says global demand for oil to ebb only after 2040While consumption will slow down, global use is not expected to peak for decades
Source: BDliveSA - 🏆 12. / 63 Read more »
Better fuel efficiency means growth in oil demand will slow from 2025International Energy Agency says demand growth will continue to increase even though there will be a marked slowdown in the 2030s
Source: BDliveSA - 🏆 12. / 63 Read more »
Oil dips amid fading hope of trade dealForecast for slower global demand growth after 2025 also weighs on market
Source: BDliveSA - 🏆 12. / 63 Read more »
Oil dips amid fading hope of trade dealForecast for slower global demand growth after 2025 also weighs on market
Source: BDliveSA - 🏆 12. / 63 Read more »