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Oil prices keep rallying following OPEC production cuts

  • Regular
  • Economy
  • 3 months ago
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Oil prices have extended their gains following last week’s OPEC meeting in Vienna which resulted on a price cut of 1,2 million barrels per day.

Nevertheless the forecast for next year is quiet so far on the fears of an economic slowdown.

Brent crude oil futures were up 0.9% at $62.21 per barrel while U.S. West Texas Intermediate crude futures were up $0.2 at $52.63 per barrel.

The cuts announced by at the OPEC meeting however will not be in place until January of 2019.

 

 

 

 

Source: Smart Trend Team