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Oil prices rise due to Saudi comments

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Post by claud39 on Tue May 07, 2019 6:59 am

Oil prices rise due to Saudi comments


 07/05/2019



Oil prices rise due to Saudi comments 14993



Economy News - Baghdad


Oil prices rose on Tuesday, after Saudi Arabia said the producers' agreement to cut output "OPEC +" may be decided to extend after June to cover the whole year.


Saudi Energy Minister Khalid al-Falih's comments came despite pressure from US President Donald Trump to compensate for the expected shortfall in tightening US sanctions on Iran.


At 08:09 GMT, Brent crude was trading at $ 72.28 a barrel, up 0.33% from the latest close.


US crude rose 0.38% to $ 63.74 a barrel.


Prices were under pressure earlier in the session, after Chinese data showed that the world's second-largest economy was still struggling to regain momentum.




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