Monday, 26 March 2018

Crude Oil Gained Pushed Up By Saudi Plans For OPEC And Russian Led

Crude oil trading range for the day is 4166-4324.

Crude oil gained pushed up by Saudi plans for OPEC and Russian led production curbs introduced in 2017 to be extended into 2019 in order to tighten the market.

Saudi Arabian Energy Minister, said that OPEC members will need to continue coordinating with Russia and non-OPEC producing countries on supply curbs in 2019.

OPEC said that the cuts were close to having the desired effect of reducing global inventories to five year averages, although it gave little detail.

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