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Oil tops $40 on OPEC cuts and demand recovery

1 month ago   |   By Reuters

Oil climbed above $40 a barrel for the first time since March on Wednesday, supported by signs of recovery in coronavirus-hit demand, lower U.S. inventories and expectations that OPEC+ will keep oil output cuts in place.
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Oil climbs above $40 for the first time in 3 months on hopes of extended production cuts

Oil climbs above $40 for the first time in 3 months on hopes of extended production cuts

1 month ago   |   By Business Insider

Oil rose past $40 per barrel on Wednesday, three months after oil prices plunged over 30% at the worst level since the Second Gulf War.
In early European trading, Brent crude rose to $40.12 a barrel amid reports that OPEC+ members are favouring extension of production cuts currently set to end in June.
The cartel could meet to discuss those cuts as early as Thursday, Reuters reported.
OPEC's leading member, Saudi Arabia, is reportedly eyeing an extension of one to three months.
"The oil market seems to be following the stock market optimism that for now has been unbreakable despite a...
Read more ...

 

Oil climbs above $40 for the first time in 3 months on hopes of extended production cuts

Oil climbs above $40 for the first time in 3 months on hopes of extended production cuts

1 month ago   |   By Business Insider

Oil rose past $40 per barrel on Wednesday, three months after oil prices plunged over 30% at the worst level since the Second Gulf War.
In early European trading, Brent crude rose to $40.12 a barrel amid reports that OPEC+ members are favouring extension of production cuts currently set to end in June.
The cartel could meet to discuss those cuts as early as Thursday, Reuters reported.
OPEC's leading member, Saudi Arabia, is reportedly eyeing an extension of one to three months.
"The oil market seems to be following the stock market optimism that for now has been unbreakable despite a...
Read more ...

 

Oil tops $40 for 1st time since March on OPEC cuts, demand recovery

1 month ago   |   By Reuters

Oil rose on Wednesday, topping $40 a barrel for the first time since March, supported by lower U.S. inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the coronavirus crisis.
Read more ...

 

Oil gains, with Brent above $40, as hopes rise for output cuts, recovery

1 month ago   |   By Reuters

Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the coronavirus pandemic will spur fuel demand.
Read more ...

 


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