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Caspian Energy Journal Caspian European Club
Monday, 11 March 2019 13:00

Oil rises on ongoing OPEC-led supply cuts

Oil rises on ongoing OPEC-led supply cuts

Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall U.S. drilling activity, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

U.S. West Texas Intermediate (WTI) crude oil futures were at $56.39 per barrel, up 32 cents, or 0.6 percent from their last close.

Brent crude futures were at $65.04 per barrel, up 30 cents, or 0.5 percent.

Despite the gains, markets were somewhat held back after U.S. employment data raised concerns that an economic slowdown in Asia and Europe was spilling into the United States, where growth has so far still been healthy.

More details: https://www.reuters.com/article/us-global-oil/oil-rises-on-ongoing-opec-led-supply-cuts-fall-in-u-s-rig-count-idUSKBN1QS01N?feedType=RSS&feedName=businessNews

Person in charge of the newsline: Olga Nagiyeva 

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