OPEC+ Agrees to Make Token Supply Cut to Steady Oil Market

Bloomberg2022-09-05

OPEC+ agreed to make a token oil supply cut for October, seeking to stabilize global markets after a faltering economic backdrop triggered the longest price rout in two years.The group will reduce ...

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Comments

  • boonhong21
    2022-09-06
    boonhong21
    Ok
  • boonhong21
    2022-09-06
    boonhong21
    Ok
  • Looyusooi
    2022-09-06
    Looyusooi
    Ok
  • miker9110
    2022-09-06
    miker9110
    Up p
  • PearlynCSY
    2022-09-06
    PearlynCSY
    Oil prices jumped more than $1 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to tweak production and support prices at a meeting later in the day.Brent crude futures rose $1.43, or 1.5%, to $94.45 a barrel by 0054 GMT after gaining 0.7% on Friday. U.S. West Texas Intermediate crude was at $88.12 a barrel, up $1.25, or 1.4%, following a 0.3% advance in the previous session. U.S. markets are closed for a public holiday on Monday.Oil prices have fallen in the past three consecutive months, after touching multi-year highs in March, on concerns that interest rate hikes and Covid-19 curbs in parts of China, the world’s top crude importer, may slow global economic growth and cool oil demand.At their meeting later on Monday, the Organization of the Petrole
  • carroll
    2022-09-05
    carroll
    halo
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