Oil prices continue to rise on Thursday

30/04/2020 Argaam

 

Oil prices soared on Thursday, on signs the US crude glut is not growing as quickly as expected and gasoline demand impacted by COVID-19 restrictions is starting to pick up.

 

West Texas Intermediate (WTI) crude futures climbed to $17.35 a barrel and were up 14.3%, or $2.15, at $17.21 at 0350 GMT.

 

Brent crude rose 10.3%, or $2.33 to $24.87 a barrel in light trading.

 

On April 12, OPEC, Russia and other oil producing nations agreed to reduce output by 9.7 million barrels per day (bpd) for two months, Argaam reported.

 

OPEC said it would ease output cuts between July and December by 2 million bpd and by further 2 million bpd between January 2021 and April 2022.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.