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Oil surges from 14-month lows

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Oil surges from 14-month lows Empty Oil surges from 14-month lows

Post by claud39 on Wed Dec 19, 2018 6:57 am

http://economy-news.net/content.php?id=14818


Oil surges from 14-month lows


12/19/2018



Oil surges from 14-month lows 11976





Alsumaria News / Baghdad

Crude prices rose at the beginning of Wednesday's trading, from a 14-month low, as concerns over oversupply continued.
 
In a report last week, the Organization of Petroleum Exporting Countries expressed its pessimism about global demand for crude oil in 2019, expecting growth of 1.29 million barrels per day, compared to a growth of 1.5 million bpd in 2018.
 
Brent crude for February delivery rose 0.21 percent, or 12 cents, to $ 56.38 a barrel by 07:29 GMT.
 
By 0.09 percent or 6 cents, US crude futures for January delivery rose to $ 46.62 a barrel.
 
Starting in early 2019, the implementation of a new agreement to reduce production by about 1.2 million barrels per day, among the largest producers in OPEC, and independent producers led by Russia, in an attempt to restore market stability.
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