Arab Today, arab today crude prices edge higher amid output freeze talks
Last Updated : GMT 23:34:50
Arab Today, arab today
Arab Today, arab today

Crude prices edge higher amid output freeze talks

Arab Today, arab today

Arab Today, arab today Crude prices edge higher amid output freeze talks

Around 1300 GMT, US benchmark West Texas Intermediate for delivery in April
London - AFP

 World oil prices nudged higher Tuesday as OPEC producers met to discuss a possible freeze to crude output levels in a bid to tackle a supply glut.

Around 1300 GMT, US benchmark West Texas Intermediate for delivery in April was up one cent at $33.40 a barrel.

Brent North Sea crude for April rose 18 cents to $34.87 compared with Monday's close.

US crude had rebounded above $30 a barrel and European benchmark Brent climbed well over $34 Monday on hopes that discussions among key producers would lead to concrete action to stabilise the battered market.

"Yesterday's increase could have come mainly from OPEC trying to rally the market into thinking that there will be action to come between OPEC and non-OPEC producers" over production, Phillip Futures analyst Daniel Ang told AFP.

The leader of Nigeria, Africa's number one oil producer, was in Saudi Arabia Tuesday, with analysts forecasting that his country will offer its support for an output freeze.

Nigerian President Muhammadu Buhari is to meet King Salman in the biggest producer in the 13-nation Organization of Petroleum Exporting Countries, before travelling on to fellow OPEC member Qatar.

Poorer OPEC members like Nigeria and Ecuador have been clamouring for a cut in production to support prices, which have plunged to near 13-year lows this month.

But OPEC's richer members led by the Gulf states have refused to budge, preferring to fight for market share against rivals like the US.

However there is now talk of a freeze to current levels of output should OPEC, whose members together pump out about one-third of the world's oil, convince major non-OPEC producers such as Russia and the US to also maintain their own production levels.

Analysts said traders will this week be monitoring also US growth data for a gauge on the economic health of the world's top oil consumer.

Before Friday's data, the US energy department will Wednesday release its inventory on commercial crude stockpiles for last week -- a closely watched index measuring energy demand in the United States.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today crude prices edge higher amid output freeze talks Arab Today, arab today crude prices edge higher amid output freeze talks

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday