Crude Oil Gained After A Survey Showed OPEC's Commitment To Its Supply Cuts - Dollar Advisory | Best Commodity Tips Provider

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Friday 2 February 2018

Crude Oil Gained After A Survey Showed OPEC's Commitment To Its Supply Cuts

Crude oil trading range for the day is 4084-4268.

Crude oil gained after a survey showed OPEC's commitment to its supply cuts remains in place, even as U.S. production topped 10 mbpd for the first time since 1970.

OPEC's strong compliance with a supply reduction pact offset news that U.S. production topped 10 million barrels per day for the first time in nearly half a century.

U.S. crude oil production in November surpassed 10 million barrels per day for the first time since 1970, and neared the all-time output record.

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