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Oil at five-week high as OPEC sources, Russia, talk of cooperation
August 16, 2016 by admin · Leave a Comment
Oil settled up nearly 2 percent on Tuesday, hitting five-week highs for a second straight day as sources at OPEC spoke of Saudi Arabia's apparent desire for higher crude prices while Russia met the producer group to discuss the market. A weaker dollar also supported crude prices, as did the loss of more than 700,000 barrels per day (bpd) in Nigerian output to militant attacks and pipeline problems. The Organization of the Petroleum Exporting …
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Oil at five-week high as OPEC sources, Russia, talk of cooperation
kogalym
Oil hits 2016 high above $40; glut warnings resurface
March 7, 2016 by admin · Leave a Comment
Brent crude rose on Monday, hitting a 2016 peak above $40 a barrel as producers sought a new anchor price for oil after a selloff that has lasted nearly two years, although some analysts warned the global glut is still big. Global crude prices have risen more than 40 percent since two months ago when…
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Oil hits 2016 high above $40; glut warnings resurface