Archives of “To 2019 world oil market chronology” tag

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Oil likes what it heard from OPEC, prices edge higher early

  
Analysis, Crude
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Crude starts the week higher

Crude starts the week higher
WTI crude rose as high as $39.90 shortly after the open. It’s since ticked a few cents lower to $39.83, which is up 25-cents on the day.
OPEC+ announced a one-month cut extension on the weekend but it wasn’t all good news as some Libyan production came back online.
Keep a close eye on the $40 with crude in the March gap. The bottom end of it is $41.05.

OPEC+ close to dropping the idea of an emergency meeting – report

  
Analysis, Crude
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So much for that hope

OPEC+ is close to dropping the idea of an emergency meeting this month and will stick with March meeting dates, according to delegates cited by Bloomberg. They say the Saudis may still push for hte Feb meeting.
Oil has climbed this week for the first time since Jan 3…at least for now. The March contract just expired.
So much for that hope
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