Oil prices ease on expectation that OPEC will raise output
SINGAPORE - Oil prices dipped on Friday on hopes that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a tightening of sanctions on Tehran by the United States.
Brent crude futures were at $74.16 per barrel at 0223 GMT, down 19 cents, or 0.3 percent, from their last close. But prices were already gaining before the Russian disruption, driven up by supply cuts led by the Middle East dominated Organization of the Petroleum Exporting Countries and U.S. sanctions on Venezuela and Iran. Crude futures are up around 40 percent so far this year.
“The U.S. will continue to pressure Saudi Arabia to lift its production to cover the supply gap,” said Alfonso Esparza, senior market analyst at futures brokerage OANDA.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Oil prices rise on decline in U.S. drilling activity, OPEC supply cutsOil prices rose early on Monday, with Brent hitting its highest level since Nove...
और पढो »
Gulf OPEC members ready to raise output if there is demand: sourcesGulf OPEC producers can step in to meet any oil supply shortage following a U.S....
और पढो »
Saudi plans to keep oil output within levels of OPEC cuts: FalihSaudi Arabia's Energy Minister said Wednesday that the kingdom's crude production would remain within levels outlined in OPEC-led output cuts.
और पढो »
Oil prices jump over 2% on expectations U.S. will halt waivers on Iran oil importsTraders return from the long holiday weekend to climbing oil prices, amid reports the U.S. is getting ready to cut off waivers for countries to import oil...
और पढो »
U.S. making a mistake politicizing oil: Iran oil ministerThe United States has made a bad mistake by politicizing oil and using it as a w...
और पढो »
India to get extra oil from major producers to make up for Iran oil loss: ministerIndia will get additional supplies from other major oil producing countries to c...
और पढो »
A threat in Trump’s back pocket: Shaking up the global oil industryTrump's potential support for anti-oil cartel legislation has members of OPEC holding their breath and could send oil prices into a tail spin
और पढो »
Saudi can raise oil output but will assess impact of Iran waivers ending - sourceSaudi Arabia is willing to compensate for any potential loss of crude supply if ...
और पढो »
Saudi can raise oil output but will assess impact of Iran waivers ending: sourceSaudi Arabia is willing to compensate for any potential loss of crude supply if ...
और पढो »