Fidelity bank banner Bayelsa State banner
Oil prices rise ready to go above $70

By News Express on 31/10/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 715


Oil prices were up early on Tuesday, supported by a tightening market due to ongoing OPEC-led efforts to cut supplies, although the prospect of rising U.S. shale output dragged.

Brent crude futures, the international benchmark for oil prices, were at 60.84 dollars per barrel at 0027 GMT. Brent was 60.91 dollars on Tuesday.

U.S. West Texas Intermediate (WTI) crude futures were at 54.04 dollars a barrel, 11 cents below their last close but near their highest level since February and up around 28 per cent since 2017-lows in June.

The OPEC pact runs to March 2018, but Saudi Arabia and Russia have voiced support to extend the agreement.

OPEC is scheduled to meet officially at its headquarters in Vienna, Austria, on Nov. 30.

WTI’s 6.8 dollars per barrel discount to Brent is a result of rising American crude production, which is up almost 13 per cent since mid-2016 to 9.5 million barrels per day, making U.S. crude exports highly profitable.

Also, not everybody within OPEC is withholding output with the discipline of the Saudis. (Reuters/NAN)

Source News Express

Posted 31/10/2017 3:21:33 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Kenyan President lambasts International Criminal Court over victimisation,...

Crisis looms in Ondo over installation of parallel...

No bomb scare in Jos: Police

It will be yet another day of sun,...

Lagos bans indiscriminate queuing for fuel; violators to...

Kaduna Govt. lifts curfew on 2 Southern Kaduna...

Okowa declares May 29 Praise and Worship Day,...

Drug trafficking: 158 Nigerians on death row in...

Make proper use of oil wealth, Okonjo-Iweala tells...

PDP declares seven days of mourning over killings,...

ISIS terrorists infiltrate Borno IDP camps

Army dismisses report on alleged rebellion against Boko...

 

Latest News Next President: The right man for the job, By Chima Nwafo Hate Speech Bill: Issues and worries, By Jerome-Mario Utomi 18-year-old boy rapes 7 Ekiti Varsity students Communications Minister, Adebayo Shittu, in certificate scandal Lawyer ambushes Python Dance 3 in court •Sues Buhari, Buratai, Malami, others Buhari, governors may clash with Tinubu over Ambode Oshiomhole, APC bow to governors, make U-turn on indirect primaries Delta establishes 6 IDP camps •To forward 2019 budget proposals to DTHA soon Southern, Northern leaders express fears over 2019 polls Plateau women protest half naked over military action Businessman sentenced 140 years for forging foreign cheques Stella Oduah dumps APGA, announces return to PDP

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (395,146 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,088 views) Shameless Genevieve Nnaji exposes breasts in public (307,689 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,148 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (231,667 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,342 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (199,565 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,199 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,279 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,146 views) Lagos plane crash: Journalist releases victims’ names (157,838 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,653 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (62) Business & Economy (3,613) Business Verdict (52) Columnists (932) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (652) Global Business Monitor (301) International (2,415) Interview (164) Live Commentary (28) Love Matters (143) News (39,022) Opinion (1,109) Pidgin (11) Politics (6,664) Religion (869) Sports (1,697) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement