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Tag: Brent crude

OPEC Alliance considering Stronger Cuts in Oil Production

OPEC Alliance considering Stronger Cuts in Oil Production

As the global economy shakes, the OPEC oil alliance is considering stronger cuts to production next year to prevent an expected price slump in the market. Some reports have indicated that authorities from some of the biggest Petro-nations in the world are seeking to cut an extra 400,000 barrels of oil per day from the global market. They are also considering stronger cuts of up to 800,000 barrels. It is noteworthy that the tighter oil production policy already has the…

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Brent crude recorded a remarkable increase

Brent crude recorded a remarkable increase

BRENT CRUDE RECORDED A REMARKABLE INCREASE Prices rose contracts futures for Brent crude above $ 110 a barrel on Monday, defying losses witnessed by most of the other assets that carry a risk as a result of expectations of recovery in demand growth in the industrial countries and emerging markets. Brent crude rose 19 cents to 110.04 dollars a barrel at 0340 GMT, after at the height of the settlement for the second week in a row. U.S. oil rose 27 cents to 102.47 dollars,…

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