Browsing Tag

oil prices

Price of oil rises above $65

The closure of the Forties North Sea pipeline has removed substantial amounts of Brent Crude oil from the supply line that was already constricting due to OPEC-led production costs and pushed up the price of oil to $65 per barrel.Brent…

Oil prices rise toward $57 ahead of OPEC meeting

Oil prices were largely up on Thursday, as traders waited to see whether oil- producing countries set to meet in Vienna would extend production limits to reduce the global crude glut.By 11.56 a.m., brent crude was trading at 56.29 dollars…

Oil prices soar to $58 on global output cut deal

Oil prices shot up over four per cent to their highest level since 2015 early on Monday after OPEC and other producers over the weekend in Vienna reached first output cut deal since 2001 .They jointly reduced output in order to rein in…