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Friday, 12 May 2017

Oil rises on expectations of extended OPEC-led production cut | Reuters

Oil rises on expectations of extended OPEC-led production cut | Reuters:

"Oil prices rose on Friday as traders expected OPEC-led production cuts to extend beyond the middle of this year, and as U.S. crude inventories fell to their lowest levels since February.

International Brent crude futures LCOc1 were at $50.96 per barrel at 0646 GMT on Friday, up 19 cents, or 0.37 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $48.01 per barrel, up 18 cents, or 0.38 percent."



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