Oil prices up on signs OPEC may extend output cuts
Tuesday, 21 May 2019 02:34 WIB | ENERGY |MinyakMinyak WTIMinyak MentahMinyak Brent

Oil prices moved higher Monday after members of the Organization of the Petroleum Exporting Countries, meeting with some nonmember allies over weekend, signaled that the cartel wants to extend production cuts through the end of 2019.

OPEC and non-OPEC members, such as Russia, met in Jeddah, Saudi Arabia, on Sunday to explore production options that will be decided at a June summit in Vienna. Last December, the group agreed to cut output by a collective 1.2 million barrels a day, a move that has driven gains for oil prices this year, though the agreement expires at the end of June.

West Texas Intermediate crude for June delivery climbed 15 cents, or 0.2%, to $62.91 a barrel on the New York Mercantile Exchange, off earlier highs, but still hovering near levels not seen since early May, according to FactSet data. Prices closed up 1.8% last week.

Global benchmark July Brent rose 28 cents, or 0.4%, to $72.49 a barrel on ICE Futures Europe after climbing 2.3% last week.

Source : MarketWatch

RELATED NEWS

Oil Falls From 12-Week High as Report Shows U.S. Stockpile Build
Wednesday, 11 December 2019 08:35 WIB

Oil retreated from its highest close in almost three months after an industry report showed American crude inventories expanded last week, adding to concerns over weakening demand. West Texas Intermediate for January delivery fell 32 cents, or 0.5%, to $58.92 a barrel on the New York Mercantil...

Oil Prices Recoil as Specter of Trade War, Weaker Demand Haunts Market
Tuesday, 10 December 2019 12:47 WIB

Oil prices slipped on Tuesday for a second straight session as the cons of a slowing global demand outlook outweighed the pros of OPEC's agreement with associated producers at the end of last week to deepen crude output cuts in early 2020. Brent futures were down 14 cents, or 0.2%, at $64.11 per ba...

Oil Steady as Stockpile Drop Forecast Weighed Against Trade War
Tuesday, 10 December 2019 07:41 WIB

Oil was little changed as investors weighed an expected drop in American crude stockpiles against the possibility of the U.S. imposing extra tariffs on a new $160 billion swath of Chinese goods this Sunday. West Texas Intermediate for January delivery was down 13 cents to $58.89/bbl on the New...

Oil Near 12-Week High After Saudis Surprise With Output Curbs
Monday, 9 December 2019 14:48 WIB

Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members. Futures in New York edged lower after climbing 1.3% Friday to cap a 7.3% weekly advance, the most since mid-Jun...

Oil Drops From 12-Week High as Demand Woes Overshadow Output Cut
Monday, 9 December 2019 08:58 WIB

Oil retreated from a 12-week high as optimism spurred by Saudi Arabia's surprise output cut was overshadowed by demand concerns. West Texas Intermediate for January delivery fell 28 cents, or 0.5%, to $58.92 a barrel on the New York Mercantile Exchange as of 9:47 a.m. in Singapore. The contrac...

POPULAR NEWS
Wednesday, 11 December 2019 01:56
Gold prices end higher for first time in 3 sessions
Tuesday, 10 December 2019 04:44
Hong Kong Stocks Close Flat (Review)
ANOTHER NEWS
Britain Set for Crunch Election, But Brexit Agony Will Likely Continue
Wednesday, 11 December 2019 11:01 WIB Britain's political leaders are making a final push for votes ahead of Thursday's general election, which has been dominated by the issue of Britain's exit from the European Union. A new report from analyst group The UK in a Changing Europe at...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.