EIA expects global liquid fuels consumption to increase by 1.5 million b/d in 2019, with growth largely coming from China, the United States, and India.
Tag: Brent Crude
Oil Prices Climb as OPEC members and Russia allies agreed to reduce output
The Crude oil soared 2.18% and settled at $52.61 per barrel after OPEC agreed to cut production by 1.2 million barrels per day during the…
Oil prices rise on expectations of Crude Oil production cuts around from the world
Optimism Over End to Oil Glut
Crude posted its biggest gain in almost two months as the world’s largest oil exporters prepare to discuss global supplies.
Futures rose 2.4 percent in New York on Monday after registering the worst weekly swoon in more than 2 1/2 years. All eyes are on this week’s G20 gathering in Argentina that will include Saudi Crown Prince Mohammed Bin Salman and Russian President Vladimir Putin. That event will be followed by a key OPEC meeting next week in Vienna.
U.S. crude is plunging from nearly four-year highs six weeks ago to its lowest level since early December.
The slump reflects a fundamental change in the outlook for the oil prices. A month ago, traders were concerned that a looming shortage of oil…