Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Oil prices up, increased demand for crude expected on Friday

July 14, 2017 8:07 AM
4 0
Oil prices up, increased demand for crude expected on Friday

Mubasher: Oil prices rose during Friday’s trading activities, with investors’ expectations about international growth in demand for crude.

By 7:20 am GMT, Brent crude futures edged up 0.02% to $48.43 per barrel (pb).

The International Energy Agency (IEA) in its monthly report on Thursday has raised the estimate for crude’s demand by 100,000 barrels per day (bpd) to 1.4 million bpd.

The Organization of the Petroleum Exporting Countries (OPEC) lowered its estimate of supply growth from non-member countries to 800,000 (bpd), against 840,000 bpd in May.

Source: english.mubasher.info

Share in social networks:

Comments - 0