NEWS： Oil prices are close to a four-month high led by OPEC
please contact sales@tanchin.hk for any inquiry
Oil prices rose to a four-month high on Monday, thanks to the prospect of a possible extension of OPEC-led production cuts and signs of a decline in U.S. crude oil inventories.
Brent crude oil futures closed up $0.38, or 0.6%, at $67.54 a barrel, close to a peak of $68.14 in 2019.
U.S. crude oil futures closed at $59.09 a barrel, up $0.57, or 1%, after hitting a four-month high of $59.23.
The OPEC and its allies'supervisory committee met in Azerbaijani to assess the implementation of the agreement. The Commission said it would exceed its commitment to cut production in the coming months.
"The news from the OPEC meeting is enough to support the market," said John Kilduff, a partner at Again Capital LLC in New York.
OPEC + also cancelled the April meeting, which means it won't meet again until June.
"As long as inventory levels are rising and far below normal levels, we will stick to them and guide the market towards equilibrium," said Saudi Energy Minister Farih.
Marketers said that signs of falling inventories of crude oil in Cushing, Oklahoma, also supported oil prices.
Traders quoted data from Genscape, a market intelligence firm, as saying that Kuxin, the U.S. crude oil delivery company, had lost 1.08 million barrels of inventory as of Friday.
please contact sales@tanchin.hk for any inquiry
PREVIOUS:Bearing side cover packing Improvement
Bearings
products
- Bearing side cover packing Improvement
- Bearing anchor design on the inside of the outer edge of the bearing housing fou
- Single row cylindrical roller bearing structure with ordinary single row cylindr
- Stiffness of the support shaft supported by rolling stiffness depends on the sti
- TANCBEARING NSK Bearings 3210A size parameters
