Oil rises, but on track for biggest weekly drop in months | Reuters

, Oil rises, but on track for biggest weekly drop in months | Reuters
Post CV 100% Free to the UAE!

We are free of charge but before you start please donate $5 to help others! Help us. Make a Difference.

Helping others is the first step in making the world a better place and improving the lives of those who aren’t as lucky as you. But it’s also shown to bring about a wealth of benefits for those who choose to help and might just be the key to happiness! We are helping all over the world.

, Oil rises, but on track for biggest weekly drop in months | Reuters

Oil rises, but on track for biggest weekly drop in months | Reuters

Oil prices rose on Friday but remained on track for their biggest weekly drop since at least May after expectations of more supply put pressure on the market.

Brent crude was up 10 cents, or 0.1%, at $73.57 a barrel by 1152 GMT, heading for a 2.6% fall this week, marking its biggest weekly drop since May.

U.S. crude for August rose 21 cents, or 0.3%, to $71.86 a barrel, on track for a 3.7% decline, its largest weekly drop since March.

Saudi Arabia and the UAE reached a compromise this week, paving the way for OPEC+ producers to finalise a deal to increase production. read more

OPEC+ – which groups the Organization of the Petroleum Exporting Countries with Russia and other producers – had earlier failed to agree after the UAE sought a higher baseline for measuring its output cuts.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments