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WTI oil price

Oil rises to fresh multi-year highs on demand recovery
Markets

Oil rises to fresh multi-year highs on demand recovery

  • Brent crude futures edged up 13 cents to $72.65 a barrel.
  • "In 2022 there is scope for the 24-member OPEC+ group, led by Saudi Arabia and Russia, to ramp up crude supply by 1.4 million barrels per day (bpd) above its July 2021-March 2022 target," the IEA said.
Published 11 Jun, 2021 06:40pm
Oil near one-month highs as demand outlook improves
Markets

Oil near one-month highs as demand outlook improves

  • US West Texas Intermediate futures fell 36 cents, or 0.6%, to $62.79. It had earlier reached $63.48, also the highest since March 18.
  • The IEA and Organization of the Petroleum Exporting Countries (OPEC) made upward revisions to their global oil demand growth forecasts for 2021 this week to 5.7 million barrels per day (bpd) and 5.95 million bpd respectively.
Published 15 Apr, 2021 07:35pm