Google+ Followers

Monday, 15 August 2016

Opec supply freeze speculation propels oil to three-week high | The National

Opec supply freeze speculation propels oil to three-week high | The National:

"Oil climbed above $45 a barrel in New York for the first time in three weeks amid speculation that crude producers will revive talks to stabilise prices.

Futures rose as much as 1.4 per cent after climbing 6.4 per cent last week as Saudi Arabia signalled it’s prepared to discuss stabilising markets at informal Opec discussions next month. Russia is open to talks for a joint output freeze "if necessary," energy minister Alexander Novak told Saudi Arabian newspaper Asharq Al-Awsat.


US producers added rigs for a seventh week, the longest run since 2014, according to Baker Hughes data on Friday."



'via Blog this'