Oil Declines Amid Signs Rising Global Supply to Sustain Surplus - Bloomberg:
"Oil declined on speculation a global glut will be sustained amid rising supply from Nigeria to the U.S.
Futures fell 0.6 percent in New York after advancing 0.6 percent Monday. Nigeria’s output expanded to 1.75 million barrels a day and will keep rising after government outreach and a cease-fire with militants allowed some production to restart, Minister of State for Petroleum Emmanuel Kachikwu said. U.S. crude stockpiles probably increased by 3.13 million barrels last week, according to a Bloomberg survey before government data Wednesday."
'via Blog this'
No comments:
Post a Comment