Caspian Energy Journal Caspian European Club
Tuesday, 26 February 2019 18:00

Oil edges up to $65

Oil edges up to $65

Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of OPEC were expected to stick to their production cuts, despite renewed pressure from U.S. President Donald Trump, Caspian Energy News ( reports with reference to Reuters.

Brent crude, the global benchmark, rose 24 cents to $65.00, after losing 3.5 percent on Monday. U.S. West Texas Intermediate crude eased 7 cents to $55.41.

Expectations that U.S. crude inventories had risen for a sixth straight week limited the rally.

Oil is up about 20 percent since the start of the year, when the Organization of the Petroleum Exporting Countries and other producers, such as Russia, began cutting production in an effort to reduce a global glut.

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Person in charge of the newsline: Olga Nagiyeva 

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