Oil Gains on Trade-Talk Optimism, Hopes For OPEC Extension And Forecasts For Lower U.S. Production
Wednesday, 27 November 2019 03:44 WIB | ENERGY |Crude OilOil,brent oilMinyak WTI

Oil prices edged higher Tuesday, gaining in four of the past five sessions, amid hopes that trade talks between China and the U.S. will ultimately result in a deal that sustains global economic growth and energy demand, especially if OPEC restrains production.

The market got a slight nudge higher after a report from Russian news agency TASS, citing three sources tied to the Organization of Petroleum Exporting Countries, said the cartel and its major partners, including Russia, are mulling extending a oil production-cut deal for three to six months after its March 2020 expiry.

West Texas Intermediate crude futures for January delivery closed up 40 cents, or 0.6%, at $58.41 a barrel on the New York Mercantile Exchange. January Brent crude the global benchmark, gained 62 cents, or 0.9%, at $64.27 a barrel on ICE Futures Europe.

Soiurce : Marketwatch

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