Wednesday outlook: Oil prices edge higher on tightening supplies | ZAWYA MENA Edition:
Oil prices rose again on Wednesday on tightening supplies, however future demand concerns kept the gains in check.
OPEC issued a list of oil production cuts by its members and other major producers for six months starting January 1, to boost confidence in its oil supply reduction pact.
Oil prices have also been boosted by lower supply from Venezuela, as the U.S. introduced petroleum export sanctions against state-owned Venezuelan energy firm PDVSA.
Brent was up by 17 cents, or 0.3 percent, at $68.14 by 0311 GMT. U.S. crude futures added 9 cents, or 0.2 percent.
No comments:
Post a Comment