Oil Prices Hold at 7-Week High Despite OPEC Forecast for 2020 Surplus
Thursday, 11 July 2019 19:01 WIB | ENERGY |Minyak WTIMinyak jenis Brent

Oil prices held at a seven-week high on Thursday as storm worries in the Gulf of Mexico and heightened tensions in the Middle East outweighed OPEC™s forecast for a large crude surplus in 2020 as U.S. shale production continues to surge.

New York-traded West Texas Intermediate crude futures gained 16 cents, or 0.3%, to $60.59 a barrel by 7:40 AM ET (11:40 GMT), its highest level since May 23.

Brent crude futures, the benchmark for oil prices outside the U.S., traded up 18 cents, or 0.3%, to $67.19, its highest level since May 29.

In its latest monthly report released Thursday, OPEC forecast global oil demand to rise by 1.14 million barrels per day (bpd) next year, matching the projection for 2019. But the cartel raised its forecast for non-OPEC supply growth to accelerate from 2.05 million bpd to 2.44 million bpd in 2020.

Source: Investing.com

RELATED NEWS

Oil Drops After Biggest Gain in a Month as Trade Optimism Ebbs
Monday, 14 October 2019 19:31 WIB

Oil slid after surging the most in almost a month on Friday amid doubts that recent progress in the U.S.-China trade talks will compensate for a worsening global demand outlook. Futures in New York fell as much as 2.6% after gaining 2.2% in the previous session. Washington and Beijing made several ...

Oil Prices Down as Traders Sceptical on Sino-U.S. "Partial Trade Deal"
Monday, 14 October 2019 13:25 WIB

Oil prices were down on Monday in Asia, after surging late last week, as traders are becoming more sceptical on whether the œphase one trade deal the U.S. and China agreed on Friday would lead to a quick recovery in oil demand. U.S. Crude Oil WTI Futures lost 0.6% to $54.39 by 12:30 AM ET (04:...

Oil Drops After Biggest Gain in a Month as Trade Optimism Ebbs
Monday, 14 October 2019 09:16 WIB

Oil fell after surging the most in almost a month on Friday on signs investors are skeptical that progress in U.S.-China trade talks will lead to a quick recovery in demand. Futures in New York dropped as much as 0.7% after closing up 2.2% in the previous session. Washington and Beijing reached a&n...

U.S. oil futures settle higher, gain nearly 4% for the week
Saturday, 12 October 2019 01:49 WIB

Oil futures settled higher on Friday, with U.S. prices tallying a gain of 3.6% for the week as expectations for progress in U.S.-China trade negotiations eased worries about energy demand. The U.S. and China have reached a partial agreement Friday that may lead to a truce in the trade war, accordin...

Oil Prices Jump 1.6% After Reports of Iranian Tanker Blast
Friday, 11 October 2019 18:21 WIB

Oil prices jumped Friday morning after reports of an Iranian tanker explosion in the Red Sea raised the possibility of tensions in an already simmering Middle East. The tanker sustained damages after being hit by missiles that were launched from the Saudi Arabian port of Jeddah, according to the st...

ANOTHER NEWS
Oil Drops After Biggest Gain in a Month as Trade Optimism Ebbs
Monday, 14 October 2019 19:31 WIB Oil slid after surging the most in almost a month on Friday amid doubts that recent progress in the U.S.-China trade talks will compensate for a worsening global demand outlook. Futures in New York fell as much as 2.6% after gaining 2.2% in the...

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.