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 Extends Decline as Concerns Over Global Economy Persist
Monday, 21 October 2019 20:11 WIB

Oil fell again after a weekly loss amid ongoing concern that a fragile economic outlook will continue to weigh on fuel demand. Futures declined 0.6% in New York after dropping 1.7% last week. Policy makers in China, the world™s second-biggest oil consumer, are preparing for two key meetings ...

Oil Prices Fall on Concerns on China's GDP; Russia Misses Output Cut Target
Monday, 21 October 2019 12:39 WIB

Oil prices fell on Monday in Asia amid continued concerns on China's weak GDP growth and reports that Russia missed its target to cut oil output in September. U.S. Crude Oil WTI Futures slipped 0.1% to $53.80 by 1:05 AM ET (05:05 GMT). International Brent Oil Futures also fell 0.2% to $59.24. Data...

Oil Prices Dip on Weak Demand Outlook, Supply Concerns
Monday, 21 October 2019 08:32 WIB

Oil prices eased on Monday amid persistent concerns about the global economic outlook and the impact on oil demand, while Russia again missed its target to cut oil output last month. Global benchmark Brent crude oil futures fell by 10 cents, or 0.2%, to $59.32 a barrel by 01:08 GMT. U.S. crude oil...

Oil Retreats, Contributing to a Weekly Loss as China Data Revive Worries About Demand
Saturday, 19 October 2019 03:44 WIB

Oil futures finished lower on Friday, giving up earlier gains to build a loss for the week, as data showing slower Chinese economic growth fed worries about weaker demand for oil and a recent report revealed a fifth consecutive weekly rise in U.S. crude inventories. However, support tied to progres...

Oil Rises for a Third Day Amid Low Volumes Yet Concerns Linger
Friday, 18 October 2019 19:07 WIB

Oil rose for a third day in New York amid low trading volumes, recouping most of this week™s earlier losses, yet the outlook remained clouded by concerns over the economy and abundant supplies. West Texas Intermediate futures climbed as much as 1.2% with little news to drive the increase and ...

ANOTHER NEWS
Stocks rise at market open on renewed trade optimism
Monday, 21 October 2019 21:02 WIB U.S. stocks rose at the start of trade Monday after China's top trade negotiator, Vice Premier Liu He said over the weekend that the U.S. and China had made "substantial progress" toward a so-called "phase-one" trade deal that investors hope will...

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.