Oil Pares Weekly Loss as OPEC+ Repeats That Hike Is Conditional.
In: Bloomberg.com, 2024-06-07, S. N.PAG
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Zugriff:
Oil futures rebounded from a four-month low after members of OPEC+ reiterated that their plan to increase production is contingent on market conditions. West Texas Intermediate rose to around $76 a barrel on Friday, but is still on track for a weekly decline of approximately 1.7%. The plan to gradually resume production has received mixed reactions from Wall Street, with JPMorgan Chase expressing doubt over its bearish effect and Citigroup predicting that full cuts will be maintained into next year. Geopolitical risks in Ukraine and the Middle East could potentially drive further price gains. [Extracted from the article]
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Oil Pares Weekly Loss as OPEC+ Repeats That Hike Is Conditional.
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Autor/in / Beteiligte Person: | Fanzeres, Julia ; Smith, Grant |
Zeitschrift: | Bloomberg.com, 2024-06-07, S. N.PAG |
Veröffentlichung: | 2024 |
Medientyp: | serialPeriodical |
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